As expected the Index has been
having a overall sideways move. Last we
did the index moving up. On Wednesday and Thursday we saw the index moving up
on increased volume. On Thursday the volume was quite high. However the spread
remained narrow indicating supply was coming preventing the index moving much
higher. On Friday however there was lack of demand. If the index does not take
out 9220 in the next couple of sessions then we will see some more sideways. Given the last week’s move the probability of
the sideways is more. Any dip will only provide opportunity.
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