Following was the scenario:
- On 21/12/2010,the ASI was at 6,378/91, after dropping about 181 points from 1st December.
- However, from 22/12/2010, the ASI started to go up rapidly, and ended the year at 6,635/87, after
gaining almost 257 points during about the last 08 trading days of the month.
- This momentum continued into January'11, and the ASI reached 7241/87 on 26/01/2011.
Today is 21st of September and we are looking at a 25% Credit Clearence by end of the month (Then it was 50%). Market has come down by about 200 points over the past couple of weeks.Also most of the credit seems to be cleared allready.
Guyz, what do you think? I feel a market turnaround is imminent. Glad to have your comments.
THESE ARE MY VIEWS ONLY AND I MAY BE WRONG.