Gap at 17140 filled…. Can it fill 18300-18500 and others..

Sensex technical View :
As was discussed yesterday that Sensex is nearing the bottom of the triangle and should try to fill the gap at 17140-17265. Sensex has made a low of 17138 filling the gap and also bounced 500 points from that lows. Sensex should now face resistance at 18000-18100 range which is upper side of the triangle . On sustaining those levels Sensex may fill up gaps left at 18500 and 18900 .Strategy remains to trade for short term and wait for markets to sustain above the triangle before commiting to investments for medium to long term.

All the world indices seem to be on the lower side of triangle and are similarly trying to stage a comeback in this week.

K S Oils moves up to 98 from 85 where the call was initiated can look to book at 100-110 range.
Chamble Fert and Nagarjuna can keep watch for momentum .
Grasim and ACC seem to be trying to give a breakout for a quick 5-8% move . Quick traders can keep watch
Biocon , Lic Housing can be good bounce back candidates

Some of the trade messages sent :

22-Feb-2008 12:25:51

High Risk call BUY NIfty futures at 5105-5117 stop of 5070 5180-5250. Keep strict stoploss
25-Feb-2008 10:35:51
Stoploss hit for Nifty futures

( Stoploss hit at 5080 . Nifty did make a high of 5147 before it )

25-Feb-2008 13:51:39

Nifty futures if sustains 5140-5155 levels for some time can rally to 5220-5350 . Look to buy small quantity at 5140 -5145 with stop of 5125 for traders .

25-Feb-2008 14:37:23

Nifty Futures raise stop to 5145 and look to book part at 5195 5200 next tgt 5340
(Booked part lil early as volatile mkts. Did a high of 5220 as expected. Now waiting for more )

25-Feb-2008 14:05:23

K S Oils Next tgt at 100-110 raise stoploss to 87 . Nifty Stoploss at 5125 .

( K S Oils call initiated at 85-87 booked part at 93-95 now trailing for more )

Best Regards,



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