Thursday, March 5, 2009

Update 05 Mar 09

I will rush through the update. Firstly China has taken steps to wake up the economy and RBI has taken steps here by cutting reppo to 5% and reverse repo to 3.5%.
On candle sticks the white candle yesterday tried to pierce the black candle of day before and was exactly in the middle of the black candle. That is a meek attempt at challenging the bears and it has to be substantiated today to reach anywhere.

Good news. We are very close to getting oversold. RSI has looked up a wee bit.

Rest all indicators are as bad as yesterday.