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TREND CONTINUES

Today market ended positive at 5390 with moderate gains of 26 odd points.With the current session, market have made up their mind of continuing the trend.The broader market favored the bulls with 793 advances to 680 declines.Now the markets are likely to trade higher towards the upper band of the diagonal,while oing so it may face supply at 5400.A close post 5400 will open up further alternative to 5600.
         Tehnical indicators are also supporting this movement.The MACD is about to give a poitive crossover.While the stochastic oscillator has approached the overbought zone on the daily charts.Currently markets are making higher lows successfully,where establishment of a higher high will further testify the uptrend.Taking the larger view into concern,the ADX is failing to show a significant trend strength which gives us a warning signal of lacking fundamental stimulus,here i get a bit skeptic that whether the markets will be able to attain 5600 in this round.
                                                                                                       Finally i am still holding the long call and would suggest so.







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