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ONE MORE DAYMarket pulled back by 354.71 points today on a low volume sending the NSE ASI within an intermediate time frame closing at24,537.02. The 24,400 points will be a vital level to watch today. The NSE ASI needs to hold, establish a support in order for the bull trend to resume and to complete a reversal of this intermediate neutral trend. The magnitude of today's pullback is strong but with weak volume which does not give it much strength. As such, I would expect the market to rebound soon. The quality of the rebound is going to be extremely important and with a good follow up the reversal will be completed. Key area to watch will be the 14 day RSI 50. Be the first to get our market info? Subscribe.. CLICK.... |
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