Early part of the week we saw some dominance
by supply and we expected some retracement. This did not happen and instead we saw
the index surge further ahead. However the volume remained low as the supply
took a back seat. The last upthrust was
on much lower volume. The lower volume
produced a much higher price change. In other word higher result on much lower
effort. A retracement is overdue and the
conditions for the same still exist albeit not very apparent. A retracement
would be good for a healthy up move. A retracement is very much on the cards.
That would be good for a healthy up move and would provide more opportunities.
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