SENSEX: IF SENSEX can close back above 18469 either today or
on MONDAY one can again go long in selective STOCKS
But a CLOSE below 18062 will be a warning bell
This close should not come that easily and from this level
we will see one more buying spree but as we all know markets can do anything
ZONE OF CAUTION proves to be a hurdle
NIFTY: ADX has been on the up move supporting SHORT TERM
upside momentum as on DAILY CHART but still there is no SIGNIFICANT momentum on
WEEKLY or MONTHLY charts being shown by ADX
PRICE has reacted adversely from the ZONE OF RESISTANCE
A NIFTY CLOSE above 5600 can take it further up to around
5735 as we analyse NIFTY on DAY TO BASIS we will consider ADX on daily chart
being in momentum
If the BIG GAP gets filled in there will be another BOUNCE
provided NIFTY does not close below 5421
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