Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Indian Market Review

all dressed up and nowhere to go .........

Markets are in a consolidation mode after the steep runup and trading inside a Falling wedge. Volume activity is supporting the price pattern. Additionally it is taking support near the 38.2% retracement of the whole rise. The EMA's are in a bullish setup.

> If the support zone of 5970 (green line) & 5940 (38.2% retracement) HOLDS ........... we will go places.

network.mta.org/MTA/Go.aspx

Click to enlarge