SENSEX : for SENSEX now we have a 600+ points TREND DECIDER RANGE if SENSEX wants to move up it has to give a strong close above 18724 AND for a bigger downside to open SENSEX has to close below 18160.
Yesterdays down move has almost negated Fridays up move which is a bearish sign.
The ROC indicator has turned up in last few days but it is still below zero so in sell mode if the down side has to gather momentum the ROC should not stay above its zero line.
On the down side we will have to watch 18160 on the closing basis.
NIFTY :
For NIFTY the trend decider zone is 5443 and 5605 on CLOSING basis and in a few days if NIFTY closes above 5605 it can generate some upside BUT it will open up a bigger down side once it closes below 5443 with first target at 5340 and next at 5177.
The 5/8/13 DAY EMA band is proving a VERY STRONG hurdle so for any LARGER upside this EMA band has to generate BUY call.
The ROC indicator has turned up and it should remain below its ZERO line IF nifty has to drift towards our lower targets.
And finally watch the SUPPORT line drawn on NIFTY chart carefully.
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