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Thursday, December 29, 2011
We are witnessing that the 20 day EMA placed at 16020/4800 is proving to be a strong resistance for the Indices. Yesterday, markets opened quietly and selling pressure dragged indices lower to...
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 /...