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The market has so far moved up by nearly 40% in six days. We had mentioned in our report last week that in weekly chart of Sensex, RSI had come down to historical low level of 22. In the past 25 years weekly RSI had gone below 30 for 7 times but has never stayed below 30 (oversold zone) for more than 2 weeks. It has proved this time also as the weekly RSI has popped up to 35 at current level.
Stocks on Dalal Street are likely to open higher and celebrate Obama's victory with a 2 to 3 percent gain for the day. Watch out for IT stocks, as they have underperformed other sectors on fears for a cut down in outsourcing following Obama's presidency
Tuesday's Performance
* As We Predicted, that Small Cap IFCI , MRPL , JP HYDRO , Looks Great, Just See, Every , Small Cap Stocks Rallied Yesterday's, What More u Want from Us.
Is, this Time to Buy INDIA ?
* NRI Returning Back to India , Shows Strength in Indian Economy
* Indian Bank is the Strongest Bank in the World
* Indian Economy Stable , Despite Global Meltdown
* Indian Policies, Declare Best Policies in the World, by UN
* Indian Regulators , RBI , SEBI , IRDA , Are Among the best Regulators , Compare to their Neighboring Countries
SENSEX WILL HIT ..... By 31st December, 2008
So, Advance NEW YEAR