The week saw another flop performance with 47000 +/- 300 tested once again as support. There has not been any noticeable change in the market performance to highlight in an update. The last trading day of the week was also washed down by heavy rains which have always shown a tendency of triggering panic sell. Read the last few week's updates to get a good glimpse into the most disappointing performance ever. However, we did suspect the bourse to go through a cycle reset which it is doing pretty much. This will open up the upside for a new high. So looking forward, the strategy is to take advantage of the dip and wait for a breakout.
Market capitalization has remained flat. Gains made in one week were lost in the next. With average weekly capitalizations fluctuating in a narrow range. This doesn't really point towards anything but a painful range-bound market. There is nothing visible in immediate range to speculate on it. Hold with patience and carry on.
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