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Sentiment Update

9 Oct 2020 ‚óŹ 03:17 PM

The 20 day A/D ratio is rebounding from the oversold territory but it is not running away as the broad market is not participating in a big way. However, it is rising and this move will not end till the broad market participates and creates euphoria again. We are a long way from getting overbought again so there is room to run. A lot of people are asking today if this is a divergence. Midcaps are flat not falling to say that it is a strong divergence. But what I wrote in the long short report is that you get a blow-off in wave 5 in the breadth once more before the move ends. Expect soon that the Nifty will go slow and move fewer points a day and midcaps will move 2% up a day

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