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Friday, February 8, 2013
Similar to Wednesday’s session, our benchmark indices faced tremendous resistance near hourly ’20-EMA. Strong selling pressure led indices to sneak marginally below mentioned support level of 19596...
Thursday, February 7, 2013
Indices opened higher and precisely tested hourly ’20-EMA’, which acted as a strong resistance for the entire trading session. Eventually traders pared down all their opening gains. Going forward,...
Wednesday, February 6, 2013
As expected, yesterday we witnessed a gap down opening on the back of negative cues from US and European bourses. In the process, indices missed our initial target of 19596 / 5940 by a whisker. For...
Tuesday, February 5, 2013
In our weekly report, we have mentioned the possibilities of corrective down move in the near term. In-line with our expectation, first day of the week ended lower despite having positive opening....
Monday, February 4, 2013
Despite a favorable outcome from the RBI’s Monetary Policy, indices struggled to sustain at higher levels. Strong selling pressure near the week’s high ultimately dragged indices lower to close...
Friday, February 1, 2013
Yesterday, indices traded in a narrow range but with a clear negative bias. The daily chart now indicates a ‘Trend Line’ breakdown near 19970 / 6042 level. This trend line is formed by joining the...