Capital TRUST - Technical Analytical Outlook 17 Sept 2012

SilverHawk Tue Sep 18, 2012 1:54 am

"Friday’s mind boggling 149 point rise on the ASI and the 168 point increase on the MPI on a huge Rs.3.2 billion turnover, not helped by any crossings, prove the degree of positive feeling in the market. As stated previously at 5950 on the ASI and 5650 on the MPI the market would pass through the critical 38.2% Fibonacci retracement level confirming the Bull Run. Thereafter the rise in the market would be even more pronounced than at present. All ‘doubting Thomases’ would join the market then adding momentum to the already accelerating market. Be assured that there will be no major pull back before the ASI reaches the all time high of 7800 though there may be minor profit taking binges as nervous players decide to cash some of the accumulated book profits.. "

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