Monday, July 27, 2009

It looks Sensex has completed minor wave 5 of wave (i) or wave [5] of the entire rally since late October
The preferred view is positive and we still have lot of room for current rally. We do not see any exhaustion in Sensex either in terms of Advance decline ratio or in terms of momentum
The rally has slowed down its pace but abrupt end is not what we expect
It is imperative to look for clues in next few days for confirmation on the direction
A minor correction at least till 14800 -15000 (area of previous 4th wave) is what we expect in coming 2 to 3 days after which next leg of rally may start

No comments:

Post a Comment