Friday, December 2, 2011
The week ended on a good note with a good rally .In fact today's swift move was also a surprise when the expected was a consolidation day and another of those days when it jolts you that the market is always supreme.
The expected move till 5100 - 5130 zone looks reachable with no immediate resistances upwards.
Stochastics ,though showed a divergence ,moved past the TL and has turned upwards.Signal for the next high should surface in the next few days.
And one more probable upmove till 5230-40 area if global cues are stable.
My expectation for the move forward is
5060 - 5100 (61.8%R) -5130 (at juction of downsloping TL and majenta UML) - 5050 ( previous wave minor swing high resistance turned support line) - 5200 ( Junction of current Main ML and UMLH of previous median line set)