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NSE ASI GOING UP & UP....THREE WEEKS upward rally has brought current NSE ASI Index up to 21.59% YTD, One of the best returns in world markets today. So, is NSE ASI going up up and away from now on? Well, here's the problem... 3 and more up weeks are common in Bull markets. Such a sudden strength from a primary bear market is definitely going to run into profit taking and break-even takers very soon. Indeed, as I have mentioned before, the real test of integrity comes when the correction comes in. The depth of the correction will tell us if this is a reversal pattern or just a continuation pattern. For now, short term resistance is around 26,000, (Long term is 30,000) where I see as the high probability area for that correction.
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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
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