Technical view by Nooresh

Sensex and Heavies View

We had written retracement will only take place after filling the gap ...The gap is filled and the sensex touched 13978 ..
Sensex is currently again placed at the channel support and such a faster reaction to lower levels is never a good sign ...We have not closed below 14000 is still a relief for bulls...
If we sustain 14050 levels tomorrow then we can knock 14300-14500 levels .....
On a little longer perspective our view remains the same as been emphasizing stay light much before ...
If we break and close below 13780 levels the markets will crack whether it is pre budget or post budget or pre election whatever u say ....
A word for the bulls if we stay above 14800 then only we see a rally !!!!!
Index Stocks view :
Cements like grasim, acc have almost got their due of spanking ... and not much more is left .. So a relief rally in it soon ...
IT stocks like wipro , infy , Hcl tech still attractive at current decline can bounce sharply in near term....Satyam seems the weaker one if breaks 450...
Orchid and Ntpc are the stronger ones ..orchid above 273 and ntpc can touch 145-146 above that fire..
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Article by Nooresh Merani

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