A section of market participants considers Mr Modi as Virat Kohli of politics who can deliver for the economy in a better fashion than others, Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in, said in an interview with Moneycontrol’s Kshitij Anand.
Q) It looks like market started on a fairly muted note with the Nifty50 falling below its crucial long-term as well as short-term moving averages? Do you think it is time to go 'short' or wait for a breakdown below 10533-10500 levels?
A) At this juncture, the technical picture is looking somewhat mixed with both positive and negative signs. If you closely observe the data of the last two months then it seems that the market is roughly moving in a range of 10,950 on the upside and 10300 levels on the downside.
Last November was a good month which witnessed a strong up move from the lows of 10,341 – 10,923. Interestingly, December tested the lows of November but recouped all the intra month losses only to close near to its monthly high of 10,985.
Source: https://www.moneycontrol.com/news/business/markets/market-considers-pm-modi-as-virat-kohli-of-politics-stay-put-despite-volatility-3355921.html
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