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Monday, April 29, 2013
The benchmark Indices have moved well during the week and have now tested the 61.80% Fibonacci retracement level (19416 / 5870) of the fall from 20204 / 6112 to 18144 / 5477. On the weekly chart,...
Friday, April 26, 2013
As expected, yesterday we witnessed tremendous volatility on account of April month derivative expiry. The price action can easily be described as Tug-of-war between the bulls and the bears. In our...
Thursday, April 25, 2013
In our previous report, we had mentioned that indices are hovering around 19416 / 5870, which is the 61.80% Fibonacci retracement level of the fall from 20204 / 6112 to 18144 / 5477. Hence,...
Tuesday, April 23, 2013
Yesterday, as expected, indices continued to progress higher after breaking Thursdays high of 19061 / 5794 and moved beyond our immediate target of 19200 / 5815. Indices are now gradually moving...
Monday, April 22, 2013
The week saw our benchmark indices rally independently, neglecting all negative developments across the globe. During the early part of the week, indices managed to cross the high of the Spinning...