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ANOTHER SIDEWAYS DAYThe NSE ASI continued its short term neutral trend today closing down 197.21 points. The BEARS dominated the whole session of trading right from the beginning of trade till the end to close at 27,227.26. Recap of what happened today:
Though Index was down, Buying pressure continue to match up selling pressures without pushing share prices up, This goes to show that there are still significant bullishness in the market. In fact, Smart money have reallocated their assets to the BANKING SECTOR ranking amongst the top 5 trades for the past 4 days. We expect to see a drop tomorrow as market heavy weight OANDO plc (highest loser today) will be marked down for a bonus of 1:2. Lets see how stocks will react to their Support Levels of 27,000 points tomorrow. Use our TRW SUPPORT & RESISTANT LINES to as a guide For now, the NSE ASI is in a short term Bear trend and intermediate/long term Bull Trend.
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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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INVEST
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