Wednesday, August 25, 2010

Indices in India – a study of patterns - Tanmay G Purohit

Following is an analysis of major indices in India and they are tracked regularly by investors. I have included BSE Sensex, BSE  Metals, BSE IT, BSE Teck, BSE Auto, BSE Realty and NSE BankNifty here. I have packaged all the indices in a single file, please download from this link:
BSE IT Index is making bearish Head & Shoulders formation, below 5400 it would be broken and further 300 point fall is not ruled out as per the pattern logic. Above 5600 move would negate the formation. Below 5400 up channel would be broken too.

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