TASI rose for the second day in a row and added 17.70 points
to close the day at 7104.50. Though the Index is trapped in a narrow band of
7115-7015 for the past few days, the undertone is firm and there is a very
little chance of a down move in the near term.
Today TASI may make an attempt to breakout from this range
on the upside mainly in sympathy with the rally in global markets. If that
happens, expect the Index to test its next major resistance around 7500 level.
Near term support is placed at 7050.
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