Market after a long consolidation phase seems to have broken down. Intraday charts look oversold and like every other breakdown markets usually bounce back to test the resistances before continuing their journey further. So for now, I covered all shorts and am waiting for the next rise to short again...resistance for this rise will now be near about 5070 - 5080.....overall markets are looking weak only for the time being.
Tuesday, December 15, 2009
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