Never make quick conclusions with this market !
Sensex Technical View :
There was no follow up to the sustained drop of yesterday with sensex inching above 14600 in the morning hours. The closing has been strong and yet again its in striking distance of 15250 recent top.
Simply put the strategy remains the same wait for 2-3 sessions of closing below 14600 to call a trend change or above 15300 for a spike to 15580/16200. Its not a market to make quick conclusions.
Continue to be stock specific and trade with strict stoplosses as volatility will continue to be higher then usual.
Stocks to watchout for :
ITC jumps up to 191 continue to hod for more. Nestle,Saksoft,Uflex,classic diamonds maintain hold.
ICICI above 765 , Kotak Bank above 705 could see day moves.
Cummins , ITC and Kotak charts posted below.
TECHNICAL ANALYSIS SESSION
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