SENSEX: SENSEX is just a few points away from the second
resistance level of 17742.
We had a good run in SENSEX in last few days but still it is
very STRANGE that ADX has just now crossed the level of 25 on daily chart.
This is poor momentum.
Stoploss for all longs 17572 or maximum 17471 on closing
basis also watch the STEEP TRENDLINE on SENSEX CHART as support and a stoploss
for longs.
NIFTY: a close at 5380 is a close just two points above 5478
for NIFTY
Can be it be a breakout point for the TARGET of 5442 and
5489 ?
It can be but watch todays open as if NIFTY opens a GAP DOWN
it must cross the open high in next 15 minutes of trade if NIFTY has to close
back above 5378.
A close below 5328 in next two days will be a warning bell
for longs again
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