Once again lack luster activity continued for the first trading day of the week. Once again Foreigners remained net buyers in the market. Which will certainly improve the local sentiment. International Oil prices also coming down on weakening hurricane. Again this is good development on current account lowering the import bill in addition to curtail imported domestic inflation. Asian market took some hit as the liquidity crunch continues. Inter bank dolor rate is up which is a sign of worry. However 77 remains to be the major resistance.
Technically market need to give couple of positive percentage gains to make me switch sides. Failing to do so market immediate support lies around 8700 which again currently is on mercy of freezing period. Bulls and bears seem to be organizing within their camps. therefore Remain sideline.
TOP pick : NRL
1 comment:
good work
it can b improved further with additions like int stock mrkts commodities currency trends suggestions etc
interest rates can also b added
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