Continuation of fallIts been under pressure since it hit the peak of 6.00 and since then its been falling down. There is a hope of bottom formation at current levels but for now i think it will go down further to retest the support level and make a reversal from there. Till the time its below the downward trendline there is no hope of it turning into bullish!!
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Stalkstock
Positive LookFor now Burjeel is looking positive and its in a chart pattern, lets wait for the breakout i am still very Bullish on Burjeel Holdings. Tomorrow if it opens flat or with a gap up most likely we should see it going north. Else if overall market is negative it may come down for a retest.
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Under PressureSurprisingly ADX stocks are not performing well for the last 2 months or so. Market can come down to retest the support level again that is around 9800. Burjeel will also be added to the index, its getting listed tomorrow so expect so high volumes. All the best to Burjeel Holdings.
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Go Salik !!If we compare the last 3 IPOs that is Dewa, Tecom, Union Coop. Salik is performing very well infact it started to recover in just 3 days after the listing. Its at a support level now and if tomorrow market is positive and if it opens flat or with a small gap up I think we will see buying momentum but incase if it opens with a gap down stay out of it till we see another buying signal.
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My FAVORITE STOCKIt have become one of my favorite stock in ADX, I think from here it is ready to go here provided market sentiments are not negative tomorrow.
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Range Based Its been in this range for so many days although it was looking very promise earlier i was expecting a breakout to the upside but for the last 3 to 4 days we are just seeing selling pressure. This is a good place for the buyers to protect this support area. Hopefully we should see buying momentum from here else we going south.
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