GOOD MORNING.
DEAR FRIENDS,
WAIT
A MINOR RECOVERY FROM DAY'S LOW DOES IN NO WAY SIGNIFY A REVERSAL. BUT, COULD BE A POSSIBLE BEAR TRAP, SO DO NOT GET CARRIED AWAY BY SUCH MINISCULE MOVES.
WAIT AND BE PATIENT, DO NOT BE IN A HURRY TO RUSH INTO BUYING AT ALL FOR THE TIME BEING.
SENSEX NEEDS TO CROSS 16700 TO REVERSE THE CURRENT BULL ONSLAUGHT, A FAR FETCHED IDEA AT CURRENT JUNCTURE.
TODAY, SENSEX FACES RESISTANCES AT 16070 & 16165. WHILE A MOVE BELOW 15875 WILL PUT DOWNWARD PRESSURE HURTLING MARKETS FURTHER TO 15615 OR EVEN 15340.
NEYVELI LIGNITE HAS TURNED WEAK. EVERY RISE CALLS FOR GOING SHORT UPTO 135 AND MAINTAINING A STRICT STOPLOSS PLACED AT 138.50. DOWNSIDE TARGETS FOR NEAR TERM ARE PLACED AT 105 AND 121. A FALL AND CLOSE BELOW 119 WILL LEAD STRAIGHT TO 105 AS WE SEE A POSSIBLE SUPPORT AT 121.
TAKE CARE!!
NS FIDAI
DISCLAIMER:
[The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. Author will not be held responsible for any losses, financial or otherwise, incurred.]
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