Market Will continue to Celebrate from Today The Relaxation Of The Hated Price Band Rules!!!
Investors are in for a ‘bonanza’ today as the market celebrates the relaxation of the hated price band rules. We agree that what was needed was a complete hands off ‘laissez faire’ approach to market regulation that will ensure free and fair trading while ensuring the eradication of market manipulation and corrupt and unfair practices through rigorous monitoring and diligent surveillance, as practiced in the world’s developed financial markets such as London, Hong Kong, New York and Tokyo. Nevertheless we welcome this substantial relaxation of the irritating and market distorting price band rules which come as a most welcome move on the part of the regulators. Market is sure to reach the all time highs today to test the application of the relaxed price band rules.
Market rally that is sure to take place today may gather momentum next week as the full impact and implications of this welcome move by the regulators is realized fully by the investing public. RSI’s of ASI & MPI daily charts are at 63 & 46 and ASI is in between Upper and Middle Bollinger Band and closer to the latter than to the other. The MPI is just crossing the Middle Bollinger Band from below.
GREG group shares staged a spirited recovery yesterday in anticipation of significant ‘good news’ hotly tipped to come from this popular group of companies shortly. BUY 1 signals have come on practically all the GREG group shares and warrants and those still with HOLD signals on our TA signals summary are likely to turn to BUY 1 on the expected sharp rise in the prices of these shares today. TWOD share that was lying low for almost a month, started recovering yesterday in anticipation of the court case coming up within a week. Carson’s group shares too are likely to rise sharply on the attractive mandatory offer made to the minority shareholders in the group. Poultry Industry stocks are also staging a comeback. More stocks are most likely to join the ranks of ‘popular stocks’ in the ‘post price band relaxation’ era.