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BULLS LOOSE GRIP.NSE ASI slumped 106.86 points today as profit taking set in to break its Friday's Jinx that have continued to close high as it closed at 27,753.13. I expected a Pullback on wednesday, but the financial scorecards from the UAC GROUP prevented the Bears from striking. The same UACN did trigger a PANIC SELL moving from a 5% gain to a whooping drop of 10% recording the highest loser for today. So far the market is in a sideways and accumulation level (buying pressure without much upward trend). We expect to have a better view on Monday whether this is a Minor correction or the beginning of a New Trend. Weekly Look Back : Overall, it have been a neutral Bullish week for the markets as early week gains were negated today Friday to close near where it ended the week before. The key concern is Weekly/Monthly time frame for the Index is still looking BULLISH.
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This commentary is not
a recommendation to buy or sell, but rather a guideline to
interpreting the specified indicators. This information should only
be used by investors who are aware of the risk inherent in
securities trading. TRW accepts no liability whatsoever for any loss arising from any use of this expert or its contents. |
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