SENSEX: this has been another good attempt from bulls to
CLOSE SENSEX above 17120
If this happens by Friday it will be very good indeed.
There is better thing in yesterdays up move that there was
very good participation from most of the leading stocks
SENSEX closed at 17050 which in the middle of my STRONG
RESISTANCE ZONE of 16920-17120 as I have been insisting of a weekly close above
17120, it will be crucial if our markets can attain these levels even after a
GAP DOWN open today.
A close below 16840 and 16636 today will again put pressure
on bulls.
NIFTY: once again initial hurdle at 5133 and 5156 has been
crossed but as I have been insisting for a WEEKLY CLOSE above 5217 it will be
critical to watch NIFTY CLOSE today
DJIA has been down overnight and a GAP DOWN close will be
possible so watch 5100 and 5041 levels for today as support and be careful in
longs if NIFTY CLOSES below 5100-5041 today.
Do remember that UNLESS ADX picks up one should not expect
big move on either side.
In case of NIFTY closing below 5041 it could become a case
where one can short rallies in coming days.
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