Today's Opening - 4830
Today's High - 4832
Today's Low - 4786
Today's Closing - 4809
Previous Day's Opening - 4819
Previous Day's High - 4856
Previous Day's Low - 4792
Previous Day's Closing - 4830
The lower closing is accompanied by lowest volumes since 21st Aug.
The Positive Directional Index has dropped for the second day in a row.
The 3, 10-day Moving Average Convergence Divergence is at 55, lowest in the previous four days.
However, the Negative Directional Index has remained the same as the previous day and the 12-day Rate of Change is lowest since 7th Sep. The 2-day RSI index is at 33%.
Therefore, inspite of maintaining my bearish outlook for the next 2-3 weeks, it wouldn't be surprising if the index manages to remain above 4786 for the next 2-3 trading sessions and try to break the 4889 resistance again.
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