SENSEX : SENSEX rose sharply up after
initial unbelievable volatility and has crossed another important hurdle at
16756.
We still have two days left in this week
but now there should be BUY ON DIPS till SENSEX remains above 16756 on closing
basis.
We believe that even poor results have been
discounted in the current price so a LITTLE BIT better results will cheer
traders/investors.
NIFTY :
any dip up to 4997 and 4965 should be a good buying
opportunity.one caution is that such a dip should not be so fast as to close
below 4965 in a single day.
targets : 5156-5177 and than it should make a higher
bottom if that happens or on a strong close above 5177 NIFTY will have a target
of 5225-5340.
4851 has now become a very strong support and trend
decider level.
If one carefully reads our weekly chart book on 5th
September we said that markets will have a significant upside after they show
POSITIVE DIVERGANCE on daily chart and upside will come after TWO CANDLE
REWERSAL PATTERNS on weekly chart.
Both things are in place on daily & weekly charts.
Two days still left for the week to end so NIFTY MUST
close above 5034 for further upside targets.
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