Monday, 9 July 2018


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What a week it has been for equity markets – higher MSP for farmers, trade tensions between the US and China, rising crude oil prices and rupee depreciation. But, Indian markets managed to climb all wall of worries and closed 0.54 percent higher for the week ended July 6.

It closed below 10800 levels but above 10,770 which is a good sign. Also, it is trading above all its crucial short-term moving averages

However, the big consensus among the analyst community is that the downside looks fairly limited but investors should wait for a breakout or a breakdown on either side before initiating fresh positions


It has to continue to hold above 10777 zones to extend its move towards 10835 then 10888.

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