Weekly Big Picture – Key Indices Retreat from Higher Levels, as GST Jitters and Global Weakness Drag the Market

MarketSmith India _ Weekly Big Picture.

MARKET PULSE

Status: Confirmed Uptrend

Current Outlook:

Market environment conducive for new purchases, but remain selective.

Focus on fundamentally strong stocks breaking out of strong technical patterns.

Stay disciplined and exercise sound buy and sell rules.

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Daily Big Picture – Key Indices Extended Slide

DailyBigPicture-MarketSmithIndia-WilliamOneilIndia

Daily Market Review

The key benchmark indices opened for trade on a higher note after a holiday. However, the indices slipped into the negative terrain amid lack of key domestic or global cues to boost investors’ spirits. Indices extended slide in afternoon trade as selling pressure intensified amid weakness in European markets. Geopolitical tensions was one another factor that weighed on market sentiment. Reports suggesting that China today, 27 June 2017 accused Indian troops of crossing the boundary in the Sikkim region and demanded their immediate withdrawal while asserting that it stopped the Indian pilgrims who enter Tibet via the Himalayan pass of Nathu La for safety reasons in view of the border issue.

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