Short term trend may be down; Nifty support around 10,125

Trend following signals are indeterminate in the short-term. The advance decline ratio is nearly flat

The market rebounded from near 10,100 on last Wednesday and it has since tested upside resistance at 10,325. However, there are still net losses in the November settlement. The near-term signals are hard to decipher. 

After hitting a high of 10,490 on November 6, the market has reacted to a recent low of 10,094 on November 15. Weak macro-economic data and average second quarter (Q2) results were balanced by the sentimental driver of the Moody’s upgrade. However, that impetus seems to have petered out. 

Higher global crude prices are causing some anxiety and every trader is braced for currency volatility