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NSE DOWN ON LOW VOLUME.Market continued another Bearish rally down by 412.11 points today on a Low volume closing at 23,623.81. As expected, the NSE ASI closed right down to the 30 day moving average line and looks poised for another rebound. What will seriously surprise me would be if ASI should close significantly below the 30 days moving average tomorrow on significant volume. That could spell the start of another correction. Current 14 Day Rsi closed at 50.79 will be a critical level to watch on what direction the market will head, while MACD histogram is trending downwards though above the zero line. From my own view, I think we should see a rebound soon. PLEASE CLICK TO DOWNLOAD
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