We said, "optimistic if today it forms as a Bull candle closing over Wednesday. Otherwise, anticipate dull deed." Up 201 points at 2:20 pm, the index traded over Wed. However, reversing 286 points in delayed trade, it closed 45 points poorer. While metal, PSUS, FMCG and capital goods divisions outperformed, realty, bank and IT traded weak. The A/D ratio closed downbeat. The action formed an Inverted Hammer-like candle, in reply to Thursday s' Hammer-like candle. The larger higher gloom at the top of the candle recommended incapability of the index to maintain over last day and form into a Bull candle. Such a candle could be downbeat on downside end below its bottom. Yet, observe the gap zone of May 8.
Indian Stock Market Trading Tips 08 June
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