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Thursday, 8 October 2015

Edelweiss - Continued stagnation in the market, the upside

Edelweiss Securities (Edelweiss Securities) said today in its daily technical report in yesterday's trading market stagnation (consolidation) of running a round. Tomorrow Wednesday Nifty (Nifty) also recorded a slight rise of 0.30% and in 8200 approached. But it was tucked away in the small scope of the day only 56 points. On the hourly chart indicators are flat, which shows stagnation. Although Tuesday's session of the Hanging Man candlestick structure which was negative, due to the cross at the top of the candle has been ineffective. Now Nifty remained lackluster interval August 24 (bearish gap) will try to go to 8225 to complete.

Idelwaij's report that the momentum oscillator MACD above the zero line in the positive momentum and RSI's trend is showing up. Idelwaij believes pause after completion is expected to be quickly released again. It is said that short-term targets for 8225 and 8360 are up. The move prompted sharp reversal will occur when Nifty 12 days SMA (7956) to be run down.

SENSEX - 10:43 AM | 08 Oct 2015

Open - 27116.86
Prev. Close - 27035.85

NIFTY - 10:43 AM | 08 Oct 2015

Open - 8196.75
Prev. Close - 8177.40