Religare Securities Limited
Published on 26/09/2017 1:11:23 PM
Markets started the F&O expiry week on feeble note and lost nearly a percent. Weak Asian markets triggered negative start which further worsened with selling pressure across the board. However, rebound in last one and half hour trimmed some intraday loss. Amid all, market breadth failed to see any major improvement and ended on negative note.
There’s some buzz around possible stimulus package which the government may announce to boost growth. However, market seems more concerned about its impact on fiscal deficit. Besides, anxiety around the geo-political tussle is adding fuel to the recent turmoil. Put together, indications are pointing toward further decline and any bounce may attract selling pressure. Volatility will remain high due to the upcoming derivatives expiry and erratic swings on global front. Thus traders should limit their positions and wait for some stability.
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