SENSEX (Close- 14483.83)
Sensex has seen weakness on last trading day and closed below 14500 marks. Technically Sensex has major support at 14000 marks. This sell off was much inspired by global weakness. We cannot ignore the fact that market is in over sold zone. I like to say that a lot has chenged for stock market on this weekend and good reaction is expected. Technical signal is still favouring for the target above 15000 marks for Sensex. Caution required in metal stocks. We can expect firm trade in banking and technology pack. Over all short trades should be avoided still you may get stock specific short trade opportunity.
Support - 14430/14200/14000
Resistance - 15000/15165/15320
NIFTY (Close- 4352.30)
Nifty has technical trading support at 4300 marks and has good support at 4250 zone. Technically one can expect a move above 4400 marks. One can prefer long in any lower levels.
Support - 4320/4278/4250
Resistance - 4384/4421/4450
Monday, September 8, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment