Tuesday, 19 August 2014
Tuesday, 5 August 2014
The current market price breaches the key moving averages which points to a weak outlook. The other technical observations are: the Momentum is valued at (1.15), the Relative Strength Index is valued at 48, the Positive Momentum Indicator is valued at 19 and the Negative Momentum Indicator is valued at (22). One can short at the current level or on rise till Rs438 for a downside target of Rs432-430. Trade above Rs441 will negate the bearish view.