Thursday, May 17, 2012
75 % correction completed of last rise from 15135 to 18524
we have completed 75 % correction of last rise from low of 15135 to 18524 ( 3389 points ) at yesterday's low of 15975.
sensex is highly over sold. showing +ve divergence in daily rsi (5) chart.we are correcting since 13 weeks from top of 18524.
of course, sentiment as well as parameters around us either domestic or internationally are weak, but they might have been discounted in current prices.
in first up move from 15135 to 16049 , highest closing was 15970. yesterday we have closed at 16030 after making intra day low of 15975.this closing is just above 15970.
we may see a pull back from here.on closing below 15970 this view will be negated.
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THE SHORTEST WAY TO DO MANY THINGS IS ................
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