BREAK-OUT OR FAKE-OUT?

An interesting close i must say happened on the floor of the NSE today, with Bulls defending that critical support level I did talk about yesterday closing FLAT at close of the Bell.

Analysts are split into two camps once again... the fake out camp and the recovery camp. Analysts of the fake out camp contend that this is a resting stage and the bear market rally will continue, while analysts of the recovery camp contend that this is the start of a recovery market. Such a split of camps usually signal that something significant will change about the market.

So far, the NSE ASI has established a short-term sideways trend along the 23,000 points region after 3 inverted Flag bearish patterns.

If the market fails to make a significant up day over the course of the week, then this is again another fake out.

CLICK....