Friday, April 13, 2012

A VERY STRONG UP MOVE ON THE CARDS : STOP AT 5226


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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