SET 50 : Destined to fall
November 27, 2011 Leave a comment
The SET 50 has initial support from 666 to 670. This rage should be tested in coming days, so treat any local prop desk assisted upside as a time to sell. Once 666 is taken out a dip to 659-661 will follow, and from there the next breakdown will point to 633-640.
If we could we would short sandbag futures and go long mattress and sofa manufacturer futures.