WHERE THE MARKET IS HEADING?
Reuters India Technicals (Phil Smith)
You may see in the first graph that there was a gap opening created on 29th october which is now filled in this week's correction. There is one more big gap created when sensex opened with a big gap on 19th September after the 0.50% rate cut by U.S.Fed. It also coincides with the 61.8% retracement levels. Once the lower tops lower bottoms are confirmed in the coming days, we can be reasonably sure of seeing the sensex touching 15600 levels and if this happens over a period of 6-9 months then we would have had a time-wise correcton also. So be patient and accumulate your stocks slowly and steadyly. Happy Investing.
You may see in the first graph that there was a gap opening created on 29th october which is now filled in this week's correction. There is one more big gap created when sensex opened with a big gap on 19th September after the 0.50% rate cut by U.S.Fed. It also coincides with the 61.8% retracement levels. Once the lower tops lower bottoms are confirmed in the coming days, we can be reasonably sure of seeing the sensex touching 15600 levels and if this happens over a period of 6-9 months then we would have had a time-wise correcton also. So be patient and accumulate your stocks slowly and steadyly. Happy Investing.
Labels: stock market - indian and global, technical analysis
posted by manipayal @ 10:57 PM
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