Money Doesn’t Come Without Guidence ...
The Nifty after making a swing high at 10,985 levels witnessed a sharp fall towards 10,738 levels and closed with a weekly loss of 0.48 percent. The massive fall seen on Friday pushed the index below its 5-days exponential moving average (EMA), 13-EMA, 100-EMA, and 200-DMA.
The index erased all the gains on the last trading day to close at 10,754 levels due to the sell-off in global markets after the US Federal Reserve raised interest rates and signaled more rate hikes in 2019.
On the derivatives front, open interest data suggests that the index may likely to trade in the range of 10,500 to 11,000 levels during the week as the index witnessed highest OI addition at these levels, suggest experts.
We may notice lackluster volumes during the week as most of the global markets will remain closed on account of public holidays. Hence, experts advise investors to stay light and focus on stock-specific opportunities.