SENSEX:caution has been being advised at this high levels
and at the ZONE OF RESISTANCE and there was a big selling pressure witnessed in
SENSEX.
The zone of RESISTANCE was clearly defined well in advance
as an upside target
Even yesterday FMCG & PHARMA STOCKS saved the day else
the SENSEX would have plunged a lot more from the days high.
SENSEX made a high of 17972 as my target /resistance was
18000 and then it has closed at 17850 for today one should watch if SENSEX
closes below 17705 if that happens one must not remain long anymore
NIFTY: 5378 & 5442 were my TARGETS for NIFTY from around
5149 both targets have now been met and NIFTY faced stiff resistance at 5448
5341 is very critical support for NIFTY and a slow move up
to 5341 can be only a correction BUT a STRONG DOWN MOVE breaching 5341 can be a
fresh down move too
5260-5220 will be the TREND DECIDER GAP LEVEL for NIFTY and
a close below this gap will open up a bigger down move in future so watch these
levels carefully
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