Today the Index opened up ay 10,838 above the Price Rejection Level of
10,810 and closed slightly above at 10,852. The Index stock volume however
remained below average. The index up move
looks less credible because of the low volume.
But the full market saw Buy volumes thrice the sell volume and the advances
were twice the decline though the overall volume was less than average. Looks
like the index is being propped up to support some buying across the market. Next couple of moves is important to see if the
index will sustain above the Price Rejection Level. The probability of
sustaining look less and the move may peter out.
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