Sensex Technical View

             Another Panic day for Indian Investors. Volatility has came back again in the Indian market. From the technical perspective Sensex has sustained its 50 DMA which falls near 17935 levels. At the end of day market has significantly bounced from its day's lows.If we see at Nifty it is also well poised at crucial support of 50 DMA@5393

            Now from fundamental perspective, One good news is that Indian Economy grew by 8.8% this Quarter which can be said as relief. 

• Manufacturing growth at 12.4% vs 16.3 (QoQ).

• Agriculture growth at 2.8% vs 0.7% (QoQ).

• Mining growth at 8.9% vs 14% (QoQ).

• Construction growth at 7.5% vs 8.7% (QoQ).

           US markets opened slightly higher. If they’ll sustain then it’ll be a day of relief for global markets.

Lets Finish it off by one Trading Thought

It is better to Loose your pocket than your pants in the Market..

                               

Cheers
Chirag CM (with Help of Rohit)