News from India/Abroad did not help the global and local equity markets ..Unwinding took place in all sectors of investment..Our markets also made a low of the last rise..We are approaching a very important Time cycle now ..The next 1-2 weeks will be important for the markets to seek the new direction for the coming months..Our markets have taken a weekly trend support on fridays low at 5617..though the monthly supports are way down..Markets are a tad oversold so a bounce can be expected in the coming week in case the low is held..Watch 5690-5700 zone closely for a ride maybe to a zone of 5770-5790 over which a fast break out can take place..Supports lie in zone 5550-60 below which 5400 could be the drift zone..Trade accordingly..cheers
