Today's Opening - 4824
Today's High - 4870
Today's Low - 4728
Today's Closing - 4772
Second lowest closing since 8th Feb, 2010.
The 20-day Commodity Channel Index has been negative for the two sessions that we had this week.
The 12-day Rate Of Change has been negative for the past three sessions.
The 3, 10-day Moving Average Convergence Divergence has been negative for the past two days.
The 2-day Relative Strength Index has been below 2% this week.
The closing has been below the 5-day Exponential Moving Average level for 11 of the past 12 days.
The closing candle continues to be below the 13, 16-day Ichimoku Kinko Hyo cloud since 22nd Sep.
The index has a strong support at 4720. Expecting a short upwards pullback at this level for the rest of the week, before the continued drop. Fantastic opportunity to accumulate long-term winners like Axis Bank, ICICI Bank and Sterlite Industries at relatively cheaper levels.
Today's High - 4870
Today's Low - 4728
Today's Closing - 4772
Second lowest closing since 8th Feb, 2010.
The 20-day Commodity Channel Index has been negative for the two sessions that we had this week.
The 12-day Rate Of Change has been negative for the past three sessions.
The 3, 10-day Moving Average Convergence Divergence has been negative for the past two days.
The 2-day Relative Strength Index has been below 2% this week.
The closing has been below the 5-day Exponential Moving Average level for 11 of the past 12 days.
The closing candle continues to be below the 13, 16-day Ichimoku Kinko Hyo cloud since 22nd Sep.
The index has a strong support at 4720. Expecting a short upwards pullback at this level for the rest of the week, before the continued drop. Fantastic opportunity to accumulate long-term winners like Axis Bank, ICICI Bank and Sterlite Industries at relatively cheaper levels.
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