February 8, 2011 Leave a comment
TTA looks as if it has turned the corner at long last, and should start a sideways up trend after a almost a year and a half of dull sideways down activity.
Treat 18.40 as a key short term support. If it holds this week the chances are it will rebound to 20 before the end of February.
If the market succumbs to a few more days of selling due to local issues, TTA will likely not go below the recent low at 17.50, and in our view is worth swing trade accumulation near 18 or so, or indeed a tad higher if 18.40 holds this week.