|
|
NSE ASI RETREATS TOWARDS 200 DMAThe NSE ASI did retreat below the 25,000 points range to 24,891.73 down by a huge 318.32 points. Even though the pullback was strong and scary, all it did was take the market off its short term overbought condition and has yet to threaten the current bull trend. However, we would like to see some buying strength tomorrow as evidence that the 200 day moving average within the 24,600-24,400 points short term support will hold for a rebound. Other area to watch will be the 14 day RSI now (64.12) how it reacts within the 50 points range. If a rebound occurs here then the upward trend in prices has a good chance of continuing However, if it doesn't, immediate support will be at its daily 30MA at about 24,000 points level. For now, the NSE ASI remains in a short term neutral trend, intermediate bull trend within a primary bull trend.
Be the first to get our market info? Subscribe.. CLICK.... |
|
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. |
|
INVEST FOR A
GOLDEN
TOMORROW
Corporate Office: 62/64 Campbell Street (Kajola House) 4th & 5th
Floor Lagos Island Lagos . |
