As expected the Index has been moving sideways. The overall Market has been also moving
almost in sync with the Index. Good consolidation
is going on in the market. The price rejection level for the index is 10585 and
the price support level is 10360. The declines
in the market have been at lower volumes. When we look at the wave chart the
Buy waves seem to be gaining strength. The Sell waves has not been able move
the index much. This is typically seen towards the latter half of consolidation
ranges as the accumulation drains supply. We could see some more accumulation including
a possible shakeout. The coming week is likely to see some strength because of
the northeast election results unless we see another scam crawl out of the mess called Banking.
Hello Sir,
ReplyDeleteRecently found your site. Lot of great work. Just awesome. This might not be the right place but i am trying to see if you know of any VPA application site on US stocks.
Thank you.
Ravi