Technical view by Nooresh

Sensex rebounds as expected………

Sensex Technical View :
Sensex as had stated a bounce as expected and should face resistance near to 18000 levels and traders who picked up shoud look to book profits and people who were stuck at very high levels and did not exit as suggested at 18800 -19000 range should look to do the same in this bounce as part of discipline. Sensex should continue to be in this pattern of volatile gap ups and gap downs . Fresh buying should be slow and staggered on dips.

Many investment picks discussed yesterday can read that post for more ...

Pasting the messages sent on wednesday and thursday ... Only 2 trade calls initiated ..
13-Feb-2008 15:13:11

NIFTY futures will can run upto 4980 -5050 above 4930 can buy now at 4910 also in small qty .
13-Feb-2008 15:14:18
DLF buy with a stop of 795 for tgt 835-848 time 1-4 sessions

14-Feb-2008 09:56:09

NIfty look to book at 5100 + . DLF at 835 70\% of holding and trail.

14-Feb-2008 10:08:57
Nifty keep a trailing stop of 5050 for part qty . 835 trailing stop for DLF . Keep very small qty as tgts done.

Summary : Nifty given at 4910 does 5100 + in the morning itself beyond our tgt of 5050 ... cool 200 points + ... part qty still trailing .. DLF does tgt of 848 in opening and still traling gives 4-5% in btst ....Will continue to wait for good trading opportunities with lower risk in the current volatility ..

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Article by Nooresh Merani

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