Monday, January 16, 2012

BN, uptrending & overbought, is likely to get into a consolidation mode staying below 9050.

BN's fall from 9076 to 8946 on Friday got retraced by 50%. The 80% mark comes at 9048. Breaking 8946 would confirm the continuation of that fall towards 8800 from where intraday bounces may be expected. A new retracement may be checked then on.

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