Sensex Technical View :
As has been repeated day after day that Sensex should take a shot at 15800 zone in this upmove. Technically Sensex has broken the down sloping trendline from 21200 and 17500 . The next important trendline resistance comes at 16200-16400 which is another trendine from 18900/17500.
On the fibonacci retracements 61 % correction level comes to 15800 which is an important level to watch in coming days.
Earlier in many of the newsletters / blog articles/ powerpoint presentations it was mentioned 12500-12800 is the important zone which was being mentioned from 17k-15k levels continously. Markets are up 20 % from the low close to the level suggested. In this week we would be out with a new presentation giving the future outlook with a detailed study from past !!!!
Stocks to watchout for :
Some trading calls which can be taken as per mkt opening :
Century textiles buy above 552 for a tgt of 580-600 .
Hindalco buy arnd 143 stop of 139 tgt 152.
SCI has seen a good built up and can tgt 260 levels in short term.
Bounce back candidates :
Rajesh Exports life high of 204 and 52 week low at 47 is now available at 53 which is 1/4 from the high. The stock has not seen much of a dead cat bounce as yet. A move above 55 could see abounce of 20 % ... Fundamental trackers can put in a view .
ABG shipyard, Bharti Shipyard , Patel Engg , Inox, Bank of Maharashta could be some of the bounceback candidates.
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