Market Overbot: Scrap-based reform moves will continue
- Chart Hint: Ashok Trivedi The BSE Index (Closed 3.2 on 01-09-2) is in favor of a reactionary correction from the bottom of 20.8. At present the average for 15 days is 4.5 and for 8 days it is 310.30 and for 200 days it is 313.50. The daily MACD is pro-reform. The weekly MACD is pro-softening. Displays neutral position from overboat on daily and weekly basis as well as overboat on monthly basis. If you jump 20, 20200 on the top 6, the possibility is up to 205, 20200. The bottom is considered to be 200 support below 50. The market can make a market top around Wednesday-Thursday. Godrej CP (closing price of Rs. 4.00 dated 01-07-8) is in favor of reactionary correction from the bottom of 8.10. At present, the average for 15 days is 215 and for 8 days it is 4.5 and for 200 days it is 4.5. The daily MACD is pro-reform. The weekly MACD is pro-softening. Overbought on a daily basis, towards neutral on a weekly basis as well as an oversold position on a monthly basis. If 4 jumps on top of ...