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Wednesday, August 29, 2012


I did better with my forecasts last year than this year . This year is looking tough. Perhaps i am giving less importance to my trusted Indicators like CCI and others  and concentrating on outer functions like US presidential cycles etc etc.

The OBV is just resting on the line from where it bounced before. Also 34 SMA is near the NS. Indicators have entered Oversold area. From this I can only say that fall may not be much from here on.

Looking at Bank Nifty gives more information. Some time back i produced a Bank Nifty chart . That one is going  right as I thought.

The current BANK Nifty I think has one more day of fall . Max 2 days . And its going to hit that lower support trend line.  So  Nifty should also have 1 -2 days fall. A divergence is seen in CCI(14) for BN.
RSI is entering oversold area.

So I think tomorrow should be another down day and might be they-after tomorrow. And then a bounce.

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