September Charts, page-285

From the market depth picture, even though the buy side is almost 14.7 mil to 3.1 mil compared to sell side, if you add up volume visible on the screen, it is actually only roughly 4 million units compared to around 2 mil units on the sell side. This paints a picture that the extra 10 mil units are inserted @ very low prices and makes the buy depth looking dominating.

From the course of sale today, the initial opening was going back to test the 40c. However it seemed to me that someone knew about the announcement coming out today and quickly took positions to bring the SP back up to 44.5c from 42.5c earlier - right before the halt.

The real resistance today was at 45c which was taken out with approximately 3 mills units traded for about 30 to 45 mins. All the price lines from 45.5 onward to 49.5 were cleared with very low volumes on the way up. The volume improved with price holding sideway for most of the arvo with off-screen sellers. This indicates distribution to me.

The SP closed near day high today with significant volumes indicates good momentum for early push tomorrow. If the SP can hold above the 50c line for the first three hours tomorrow morning of sellers cashing in, i think it can move a lot higher with this run. However I would lean towards the scenario that the SP will break 50c line very early and gets pushed back into the 47c region. It will then retest the 45c line by end of this week.

@Hoot , what do you think mate ?