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More Profit Taking Continues into Earnings SeasonThis weeks close is the worst pullback since February with a ratio of 4:1 loss. The NSE ASI was down 86.41 points closing at 27,400.21. Market was bearish in most part of trading, Signs of recovery did show up towards close of market but was smashed by financial scorecards of CADBURY & BIGTREAT, declaring negative L.A.T of (55.12) and (163.75). From a technical perspective on a daily time frame My charts are not looking GOOD. MACD indices are currently in a SELL signal while MACD Histogram are now below the Zero range. while RSI are still above the 50 points level giving some signs of HOPE. For now I am still short in the market. HAVE A GREAT WEEKEND.
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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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