Bears are finally receding to hibernation but still have the potential of dips for soft correction. Major support and resistance levels are marked on the chart below. There is not much to speculate but global concerns of inflation may exert a negative influence on the mood as increased inflation may call in for internet rate hike. Strategy for the week ahead, wait and watch.
After persistent losses, another weekly gain in average capitalization is observed. We expect the momentum to continue in the future. Events that may influence the bourse are the PIB auction on 27-Oct.