DSEGEN INDEX:
Sep 15, 2011 : 5966
Sep 08, 2011 : 6077
Difference (Point) : -111 (-1.86%)
VOLUME:
This week average : 3265408000
Last week average : 3188324000
Difference (Taka) : 77084000 (2.36%)
If we compare this week with last week, we find that General Index has fallen -111 point (i.e. -1.86%) and volume has increased a little bit i.e. approx. 8 crore.
Now, please look at the chart. Index is still below the BB mid band and staying in the below channel which is extremely bearish. One important thing has been happed this week - The psychological support (6000) has been broken and the price is still staying below the psychological support level. We should watch this level and react accordingly.
If we watch the last candlestick in the chart, we found that it has a long upper shadow and short lower shadow, this means that at one stage buyers tried to show their muscles and bid prices more than previous day's close price, but the later on sellers came in the market and drove the prices and finally price back to near its open price (Just see the min chart from 1:15 pm to 3 pm). Pls. don't take it negatively. It has another meaning. Pls. don't ask me the meaning. I'm giving you a clue - Who tried to bid higher?
What should we do now :
=> If you are a position taker, you should use your previous experience and then put your stop-loss as per your loss bearing ability.
=> If you are holding share not cash, please tighten your stop-loss. Pls. don't be emotional, be mechanical.
=> If you are holding 50-50 share and cash, pls closely monitor the market as well as tighten your stop-loss.
=> If you are holding most of your cash, I know you are well smart to know what to do. Just closely monitor the market.
Finally, "Your money Your decision". No need to follow others advise specially in share market. Just try to learn and use your knowledge. Your learning will lead you to success. In shaa Allah.
by JC
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