Thursday, October 13, 2005

Technical analysis

Sensex is reacting from the peak of 8809 and had hit a low of 8382. The bottom has not been found it. The technical chart shows that a retraction can take the index down to 8353/8212 and 8071 levels. Right now the stochastic indicator shows the potential for short-term recovery while the KST indicator for long term investment is still in the red. One will have to wait out this consolidation keeping the above retracement points in mind.

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