The Market may Bottom out Today
By Sarath Rajapaksa
Oct 21, 2011 (LBT) -The badly oversold market may reach a bottom today and turnaround sharply after forming a critical Double Bottom at the 6250 level last seen on November 29th, 2010. Bargain hunters will not lose this opportunity to establish strategic positions at a near term bottom.
Continuously falling market brought the Relative Strength Index’s of All Share Index & Milanka Price Index daily charts to an absurdly low level of 14 and 15 never seen since the end of the war.
We would like to reiterate the fact that there is no way that anybody could go wrong buying at these absurdly low levels.