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Tuesday, October 23, 2012
Despite yesterdays gap down opening our benchmark indices bounced sharply from days lows. The hourly chart now depicts a narrow Channel formation. The trading range is 18886 to 18535 / 5729 to 5633...
Monday, October 22, 2012
Broadly speaking, at this juncture the markets are in a narrow trading range of 18886 to 18535 / 5729 to 5633. Only a sustainable breakout / breakdown on either side would give clarity of the near...
Friday, October 19, 2012
Finally, bulls had something to cheer about as we witnessed a sharp intraday rally during yesterday’s session. We had mentioned that the ’20-day EMA’ is proving out to be a major hurdle for the...
Thursday, October 18, 2012
Looking at the daily chart, it is observed that several attempts by the bears to break the support zone of ’20-day EMA’ have failed. Considering that there is no significant change in the price...
Wednesday, October 17, 2012
Yesterday after an optimistic opening, indices made an attempt to cross the immediate resistance level of 18886 / 5729. Unfortunately for the bulls, strong selling pressure in the second half...