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Wednesday, December 28, 2011
As expected and mentioned in our previous report, 16020 – 16070 / 4800 – 4820 levels acted as stiff resistance for the markets. This resistance zone also coincides with 20 Day EMA. After a flat...
Tuesday, December 27, 2011
After a flat opening in yesterday’s session, indices continued to move higher and tested the 20 Day EMA during the second half. Going forward, 16020 – 16070 / 4800 – 4820 levels are likely to act...
Monday, December 26, 2011
Last week, markets anchored their position near the “Downward Sloping Trend Line” (joining two lows of 15760 – 15479 / 4728 – 4639) support level of 15330 / 4540. Thus, the weekly low of 15135 /...
Friday, December 23, 2011
Yesterday, indices opened lower and drifted towards the mentioned support level of 15450 / 4638 during the first half. However, strong buying emerged near days low which pushed indices higher to...