Wednesday, February 10, 2016
ASI - In no man's land - 6311 and 6235 must be supported in the short term
Thin Turnover and grim trading pattern doesn't augur well for the Market in the short term. Presently the index is at kissing point of the 1000 sma. If we see it closing below this major support line, I do not think it is going to look nice. Hence the market must be over 6265 points to stay above this area. In the meantime I like to see 6311 points to be supported to see the index extending in the present thin and narrow range. But the present trend and the momentum is not looking good. As such any thing negative will pressurize the ascending line.
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