TECHNICAL ANALYSIS OF SENSEX & NIFTY:
A small correction lasted for a few days and both SENSEX and
NIFTY covered those few days losses in a single day with a massive &
EUPHORIC up move taking both indices to reach new highs for the year 2012.
NIFTY FUTURE touched an EXACT HIGH of 5735 which was the
NIFTY TARGET given here.
Both SENSEX & NIFTY has reached the 61.8% RETRACEMENT
levels of their deep correction which was started in OCTOBER 2010 and made lows
in DECEMBER 2011
18284-18062 was the suggested GAP SUPPORT for SENSEX and for
NIFTY this zone was 5526-5421 and in the small correction SENSEX made a LOW of
18291 and NIFTY made a LOW of 5534 from the HIGH of 5652
Both indices finished that small intraweek correction and
humped to new highs for the year 2012
I wrote on FRIDAY that a move above 5600 can take NIFTY up
to 5735 and FUTURE NIFTY made an EXACT HIGH of 5735
No sign of REVERSAL yet and after such a huge TWO WEEK long
rally markets may enter some consolidation phase
5953 and 19805 can be possible TARGETS for NIFTY and SENSEX
respectively provided the SUPPORTS at 5526-5421 and 18284-18062 remains intact
on CLOSING BASIS.
1 comment:
Sir,
Very good analysis, thanx.
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