According to a report by Dynamic Levels, the Indian market may show volatility ahead of the Election Results.
Dynamic Levels' technical report:
The Karnataka Assembly Elections Results will be announced on 15th May 2018. The Indian Market may show volatility ahead of the Election Results.
The Indian Benchmark Index Nifty last Week made fresh weekly high and continues its rally after previous week’s correction. The week began on a positive note, after hovering in a narrow range of 10636 to 10766 the Index hit fresh highs on Friday.
The Index made a high of 10812 and gained 189 points or 1.77% finally closed at 10807. The Position of big players in the Market, FII and PRO suggest upside movement in the market as they have bought 99485 contracts in the Index Options last Week.
The Cash Market Benchmark Index Small Cap has underperformed Nifty and Bank Nifty last Week. The Index corrected 87 points from previous week and closed at 8099.
Nifty Future is opening gap- up by 4 points against last day’s close of 10820 as indicated by SGX Nifty which is currently trading at 10824.
The US 10 Year T-Note is trading at 119.44. The Bond has broken its important low of 120.03 on 28th Feb 2018. The next support level is at 117.69 which is the low of Jan 2011. The US Dollar Index is trading at 92.29.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.