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Politics : Idea Of The Day
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To: George Mc Geary who wrote (13124)10/29/1997 12:35:00 PM
From: IQBAL LATIF  Read Replies (2) of 50167
 
I think we will see a consolidation phase here every one expects another rally or a slide I would think market is probing the supports on 7500 very well- to legitimise its stay here wew need this invasive probe as a part of overall market- AG speech is positive and we need to put some kind of valuations to 96 profits- market is at major support now 7545 and will close above it- if we have another strong rally people start making comparisons to 87- after Mondays we had two strong days and Thursday and Friday was again a fizzle out- here bonds have shown a direction they are up not on flight of quality but fundamentals- this divergence was during panic only- I will see market consolidating here and will attempt to take out 945-50 area- it will fail few times but for the moment we are tied btw 7800 and 7545 range. In a weeks time we willl break this on the upside to test 970 oresistance- on the downside supprt is very solid at 910. I will be looking to long at that level.
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