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ARE WE NEARING THE BOTTOM?Market dipped by a whooping 448.11 points to close at 26,952.10. Yes the BEARS were everywhere present in all market indexes all closing down. First Qtr report on UBA did not help matters as the BANKING SECTOR took the worst hit. Technically, I predicted a 27,000 points range for the index after reversing from a Fake out of 28,000 points range. Now watching the NSE ASI chart closely. we need to lookout for 1. 25 Day Moving Average of 26,652.97 points 2.RSI 54.02 points The last straw for the BULLS is for The Index to reverse above the 25 DMA and RSI staying above 50 points. A break below this levels will see the beginning of a BEAR market. Is tomorrow's Trading nearing a Bottom or a beginning of a Bear trend?
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