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NSE APPROACHING RESISTANCEMarket continued its Friday rally up by 434.10 points closing above 24,000 points as the Bulls continue to reclaim lost grounds. Though Volume/value continue to decrease, the ratio between gainers & losers was 1:2. With the market in all out bull trend once again, we would be monitoring the quality of the bull trend as it approaches its last resistance levels of 24,263.01 points. This area acted as a consolidation period between August ending and early September before plunging to 22,390 points. From a Technical view, 14 Day RSI within the August/September period was 24.47-32.40(Over-Sold) while Current reading at same level is 53.17, (DIVERGENCE). 2 Scenario's will likely happen as we approach 5th of October resistance levels of 24,263.01 PLEASE CLICK TO DOWNLOAD
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