Technical view by Nooresh

Range Bound Market …Gap Filled

Sensex Technical View :
Sensex almost came down to 14600 and followed the pattern of making gaps then filling it in next few sessions. Yet again the view remains the same 14400 and 15100 will be important levels in extreme short term. Traders need to be patient and wait for the right momentum days to trade then do compulsive trade. In the range bound times there could

Market Observations and thoughts :
Crude continues the drift downwards around 101-102 close to 100-98 support zone. Gold also has broken below 780 and can go all the way upto 725. Silver has seen the biggest selloff from 21 to 11 !!!. This is how commodities tend to fall one side as was discussed many times before.

Stocks to watchout for :
Sterlite tech could not cross 200. Ifci did 50 before coming down .

Watchout for Bank of India, IOB , BOB and SBI as all these PSU banks r seeing good volumes and may run if inflation comes lower then expectation. ( Also read base effect calculation on inflation in post below )

Would wait for some intra -day breakouts as of now not many stocks seeing much momentum .


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Article by Nooresh Merani

Nooresh has written 2532 articles.

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