Tuesday, January 12, 2016

Market can turn up tomorrow if some conditions are met

7 days tumble made 384.72 points crumble, leaving all and sundry in a jumble which only a selected few could mumble. Ironically on the 12th of January 2015, exactly 1 year ago, the market started to fall till the 31st of March, during this period the index fell 910 points, an 11.86% drop. 2nd fall started 2 days after the General Elections, on the 19th of August 2015, since then to date the market has come down a precipice by 1003.89 points, or 13.33%. RSI too is 2 points away from the 52 week low of 15.05, which was on the 30.03.2015. At present the RSI is at 17.32. Based on this scenario I believe the market to close above today's close, on the morrow. Let me repeat- Tomorrow's close to be higher than Today's. That doesn't mean...... that all is well.

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