Market Bytes 11-May-2016
Nifty futures: Is looking forward to a gapdown opening thanks to non technical reasons- Change in taxation norms for mauritius based investments. Quick analysis on that one: The good part is clarity in avoidance of retrospective taxation, + sufficient window for compliance negatives- lack of clarity in derivatives taxation norms.
coming back the the markets- This probably brings us back to bang in the middle of the trading range of 7700-7900 that we discussed. SO anything in dips to 7760 odd is a great scalping and swing trading opportunity. On the upside 7850 will hold a hurdle and shuold be a long side ternd decider for today and near term opportunities.
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