SENSEX:SENSEX
bounced back as EXPECTED but the last hour pull back made the EOD CANDLE with a
little longer upper shadow
This is
because BANK STOCKS were strong but other few sectors missed out in
participation still a better close and we have to keep a STOPLOSS of longs to
the CLOSE below the BULLISH GAP of yesterday
A CLOSE
above 17436 today would be a very positive development for SENSEX
ONE can see
the comparision of PRICE STRUCTURE AND STOCHASTICS ON both SENSEX and NIFTY
charts between NOW AND LATE DECEMBER 2011 it shows that a BIG BULL DAY is
needed to have a very strong up side
NIFTY:NIFTY
FUTURE got resisted at the STRONG RESISTANCE level of 5307 which was for NIFTY
INDEX.
Still a good
positive close with a BULLISH GAP which is placed in between 5226-5246 so one
must keep a STOP at the close below 5226 for longs for next few days.
A CLOSE
above EARLIER BEARISH GAP at 5305 will be an important sign of a STRONG TREND
REVERSAL
ONE can see
the comparision of PRICE STRUCTURE AND STOCHASTICS ON both SENSEX and NIFTY charts
between NOW AND LATE DECEMBER 2011 it shows that a BIG BULL DAY is needed to
have a very strong up side
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