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There is a ’strong piercing pattern’ on the weekly chart below. It is a bullish sign though candlestick patterns always require confirmation from the next unfolding pattern. However, there are also some positive divergence on momentum indicators and the trading volume was also noticable towards the close of the week.
On the daily chart below [...]
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Bombay Stock Exchange or BSE Sensex is currently struggling with lot of speculation about the economic policy of the new government. But there is no sense of any negativity, rather enthusiasm after the left has been left out. But still there are so many things the Indian economy has yet to grapple with.
Yesterday, the [...]
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China stock markets are trending up consistently in a bull trend manner. It has also surpassed its 52week high though technically, it has yet to confirm if it is back into the bull mode or not. For that it would have to give a sustainable close above the horizontal red line given at 3368 [...]
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Given below is the monthly chart of Nikkei225 for the month of June 2009. So far it has recovered only 28% from its January low of 7000. It is not a great achievement in comparison to its other asian peers.
Chart: Quote.com
Two red horizontal lines given at 8957 and 11312 respectively are the two levels [...]
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Shanghai Composite, currently at 2880.5 faces resistance from 2925 to 2952 ahead. It has manged to surpass our intermediate resistance around 2725, but on the long term charts it has still to go a long way to reach its 38% retracement level poised around 3970 levels. The Indian markets (BSE and Nifty) has covered [...]
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