SENSEX: today we gave SENSEX support level of 17273 and it
made a low of 17276 and bounced back sharply from lows to close in GREEN.
Remember we have been suggesting that the zone of BULLISH
GAP and previous resistance levels of 17100-17215 is very crucial support and a
bounce from there will be positive.
17278
is the level to watch on closing basis for next few days as a STOPLOSS level
for short term longs
NIFTY : for NIFTY also our support level was 5205 and NIFTY
made a low of 5201 also since last 3 days we have been clearly saying that the
GAP level of 5219 and 5156-5177 zone is crucial support and today future NIFTY
made a low of 5219 and closed above 5300 which is very positive.
NIFTY looks to have ended the small correction and next
targets seems to be 5420-5475 zone.
Stoploss for short term longs should now be placed at 5201
on closing basis.
Also there is a BEARISH GAP at 5314 NIFTY level so some
profit booking is expected around that level.
A close above it will take NIFTY up to 5420-5475 levels.
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