Market to break 6500 within 6 weeks !

Prince · 1 Market to break 6500 within 6 weeks ! Mon Oct 21, 2013 9:21 am

Prince

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Although the RSI level reached 70 level on last Friday, MACD signals a strong upward momentum in coming few weeks possible to break 6500 within a shorter period of time. Last time we saw this kind of a signal in MAY-JUNE (2013 ) which helped ASI to rise up to 6500 level. But this time's signal is much stronger where breaking the 6500 point is obvious. No need to worry about the RSI indicator as in a Market-rally , "Overbought" situation is a natural scenario. But the duration of the upward momentum is a concern. Most probably the rally will continue till the end of November or the first week of December.

Although there are several positives favoring the Market , this small rally may be in the sentimental support of CHOGM and favorably mark the return of retail investors.

dhanurrox · 2 Re: Market to break 6500 within 6 weeks ! Mon Oct 21, 2013 9:23 am

dhanurrox

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Isn't 6500 too much?.May be 6000 today. cheers

anjelo · 3 Re: Market to break 6500 within 6 weeks ! Mon Oct 21, 2013 9:59 am

anjelo

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ya keeping the ASI above 6000 would be a mental battle as retailers bumps everything when it passes 6000 waiting for it to hit rock bottom again to collect.

madurajithp · 4 Re: Market to break 6500 within 6 weeks ! Mon Oct 21, 2013 10:08 am

madurajithp

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Dont get hurry. Market may have few small corrections align to JKH rights conversion. Sure, the nov, dec should be green in avg. It is in the phase where stabilizing the ground and taking the momentum.

Humble · 5 Re: Market to break 6500 within 6 weeks ! Tue Oct 22, 2013 5:26 pm

Humble

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Prince wrote:Although the RSI level reached 70 level on last Friday, MACD signals a strong upward momentum in coming few weeks possible to break 6500 within a shorter period of time. Last time we saw this kind of a signal in MAY-JUNE (2013 ) which helped ASI to rise up to 6500 level. But this time's signal is much stronger where breaking the 6500 point is obvious. No need to worry about the RSI indicator as in a Market-rally , "Overbought" situation is a natural scenario. But the duration of the upward momentum is a concern. Most probably the rally will continue till the end of November or the first week of December.

Although there are several positives favoring the Market , this small rally may be in the sentimental support of CHOGM and favorably mark the return of retail investors.

There is a good chance that ASPI will be at 6300 levels, yep

Prince · 6 Re: Market to break 6500 within 6 weeks ! Tue Oct 22, 2013 5:47 pm

Prince

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Looks like Market got a strong consolidation today. A mix bag of 10 stocks traded over 1Mn volume.A good healthy sign. Good foreign inflow for consecutive days.
Most probably tomorrow we will see the reaching of 6000 point.

dhanurrox · 7 Re: Market to break 6500 within 6 weeks ! Tue Oct 22, 2013 8:13 pm

dhanurrox

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Prince wrote:Looks like Market got a strong consolidation today. A mix bag of 10 stocks traded over 1Mn volume.A good healthy sign. Good foreign inflow for consecutive days.
Most probably tomorrow we will see the reaching of 6000 point.

Something really big on the cards.No doubt. alien

UAEBOY · 8 Re: Market to break 6500 within 6 weeks ! Tue Oct 22, 2013 11:13 pm

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Prince wrote:Looks like Market got a strong consolidation today. A mix bag of 10 stocks traded over 1Mn volume.A good healthy sign. Good foreign inflow for consecutive days.
Most probably tomorrow we will see the reaching of 6000 point.

Agree with you.....