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50% FIBONACCI LEVEL, WHAT NEXT?Market inched up by 23.40 points closing at 25,738.79 as all Indexes closed in a positive note. Rally was rather slow today starting on a Negative tone down by 0.24% before the Bulls regained lost grounds up to 25,894 points and finally 25,738.79. Technically, The NSE ASI is now within its 50% Fibonacci level of 27,723.95 earlier discussed yesterday and seems to have difficulty breaking this line. Though the Index WTD stands at 0.41%. We expect to see more Buying pressure next week to cover this current lost position. NB: As long as RSI is above 50, The NSE ASI is in a BULL ZONE GO LONG and Have a Nice 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
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