Monday, November 9, 2009

A corrective rally??


The current rally in Sensex looks corrective in structure
This looks to be wave c of corrective wave B
Prices might resume its downtrend anytime soon!
A break below the red corrective channel will provide confirmation that major trend down has resumed
A short position can be initiated after the break of upward sloping trendline (near 16000) from 3rd November

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