NEW MONTH, HUGE RALLY

Welcome back from a 50th Anniversary Long holiday.

The market continued into its 4th straight up day today, gaining a whooping 697.22 points as the Bulls continue to regain lost grounds.

Today's Bullish rally alone covers 2 weeks of Bearish rally witnessed in September. as optimism surrounds the start of the third earnings season for the year, which are expected to be positive.

Technically

The NSE ASI is now approaching that same 23,800 resistance zone that it was in early February, when market rallied from 21,900-23,875. The last time ASI visited this level, it pulled-back and began a 4 months bullish rally from 23,000 - 28,000 levels ending in April.....

 

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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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