Sensex dips to hit 18300 levels as expected !!! Despite of the correction lot many stocks have hit 52 week highs and life highs so it all depends on what u hold :)...
In the last few days i had continously mentioned 18300-18500 zones to be support levels and in extreme case we can see 17800 ...
Sensex Fibo support analysis..
Market intermediate low = 17171 HIGH = 20238 ..............Difference = 3067
61.8% of this = 1895
So markets in short term correct to be 20238 - 1895= 18342.
MARKET LOW : 18333.
Well the market lows are not important as thats not what pays U ... This is just an analysis and as stated in all my earlier views have worked !! A reversal in the current correction would only be if we cross 20k levels.,...
TECHNICAL ANALYSIS SESSION DELHI NOVEMBER 17-18 and Mumbai DEC 1-2 OR nOV 24-25 . Do confirm ur seats..
Technical View :
Sensex has taken support at the 61.8% of the current rally and should ideally bounce back from those levels to 19100 and 19500 on higher side in short term. The confirmation of fresh bullish reversal would be 2-3 days close above 19600 or crossing the 20300 range ... The index recovered nearly 400 points from the lows near the support zones... Consolidation with stock specific moves will be the mood in coming days...
Review :Deccan Gold mines frm 22 to 34 , Ispat does almost 40 stay invested , HANUNG toys rocks frm 205 to 235 and still more to come in such weak markets also , PREMIER ltd hits ckt 105 to 122 , Asian Oilfields and Alpha geo continue to rock , PAE waiting for 39 cross.GMDC hits 634 new high ... walchand ind hume breathing ...
Stocks to watchout for :
I have been continously recommending the stock from 165-170 levels in the declines for long term and remain highly bullish as per my view seems a TISCO type run is in the offing ... The stock has crossed 205 zone and closing above it for 2 days should knock 225-250 in short to medium term ... Fresh investments can be intiated at current levels and add on every decline for the given tgts...
NTPC , JP hydro look good for intraday spurts of 3-8 % . Keep a stop of 1.5-2% to prev close. ( BTST recommended to clients )
Suryachakra power looks a promising intraday 10-15% mover ... Lion hearted traders pick on opening bell..
the stock is signalling a fresh breakout and can be taken for short term with a stop of 55 and look to buy on declines till 59 for a tgt of 75-90 in short term .
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TO SUBSCRIBE to our recommendations check http://analyseindia.blogspot.com for the details.TECHNICAL ANALYSIS SESSION DELHI NOVEMBER 17-18 .SERIOUSLY INTERESTED PEOPLE CONTACT NOORESH 09819225396 for details