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| Discuss Another look on sensex at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hi all members, please have a look at the attached chart. Bear flag developing , ... |
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#1
9th December 2006, 06:26 PM
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Another look on sensex
hi all members,
please have a look at the attached chart. Bear flag developing , rsi ( 7 ) divergence on way, market near the lower trend line of bear flag. if the lower trendline of bear flag is not break, market can continue to surprise traders , but it seems probable that flag is near to break. Following the break , there would be not long downtrend , but yaaa volatility and few weeks less negative market . Have marked imp support levels . 12600 - 12700 , 12000-12100 , 11400-11450 Also can test 55 EMA. Final outlook: go underground when bear flag is breaked and plan re - entry only when volatility diminishes and you get buy signals after test of imp. supports.  experts , please coment. cheers, winston Last edited by winstonn; 15th January 2008 at 08:27 PM. 
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