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Friday, June 8, 2012
Yesterday, after a gap up opening, we witnessed a sideways move in the market with an underlying positive bias. Indices managed to cross mentioned swing high of 16544 / 5020 and traded well above...
Thursday, June 7, 2012
Yesterday, after a gap opening, we witnessed a strong rally on the back rumors that the Fed will resort to Quantitative Easing (QE3) in the near future. On the charts positive divergence observed...
Wednesday, June 6, 2012
In our previous report, we had mentioned hourly 20-EMA resistance level of 16026 / 4861. Indices opened marginally above this level and moved towards the expected resistance level of 16147 / 4895....
Tuesday, June 5, 2012
Indices opened significantly lower during yesterdays session to test the 78.6% Fibonacci retracement level as mentioned above. Markets found decent support near this level and bounced back sharply...