WELCOME JUNE

The Bulls welcomed June in not so strong friendly note, as the NSE ASI was up by 49.36 points to close at 26,232.57.

Market scenario as I perceive today is trending on a Cautious ground. Index was up by 0.49% before closing at 0.19%.

Why are the Bulls not in control?

The Markets around the world lapsed into uncertainty as the situation in Europe worsen as the domino effect starts to swing to other European nations and If the crises is not handled properly, it is sure to affect the rest of the world as well.

From a Technical view, The Index is:

• Trending below a 15 Day Moving Average of 26.845 points (short term-Bearish)

• RSI trending below 50 points

• MACD is bearish since it is trading below its signal line.

I would not be surprised to see more volatility in the market. In fact, from the way the RSI is leading lower strongly over the past few months, I would see the market being range bound between 26,600 and 25,5000 before the market decides which way to move.
For now, NSE ASI remains in a short term bear trend.

CLICK TRW SUPPORT/RESISTANT TABLE. for Entry and Exit levels.

CLICK....