Technical view by Nooresh

Still not out of the woods …. No deep trouble though …

Sensex Technical View :
Sensex is taking hit from the donward sloping trendline consistently and currently only on crossing 15800-16000 could we see an upmove to test 16450 levels . On the lower side if 15300 if broken would lead to testing of lows and traders should strict stock specific stoplosses as there are possible moves in out of index stocks. So technically we are still not clearly out of the woods but as being said 14000-14500 are levels which should hold up in the next few weeks or months so no big trouble seen as of now.

A detailed view given in yesterdays post .

Stocks to watchout for :

Skumars , Paramount communication<>

Larsen and Toubro ( LnT ) looks weak on charts and if sustains below 2570-2600 could touch 2350-2400 or lower .

SBI 1575 and lower side and upper side 1715 are levels to watchout for a quick trade on crossover .
RPl looks good for moves if sustains above 174-176 levels .

Best regards,



Article by Nooresh Merani

Nooresh has written 2531 articles.

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