Sensex Technical View :
The indices Sensex /Nifty are facing resistance around the 50 dema zone . Also the earlier channel continues to be a difficult zone to counter. Unless we see a strong move beyond 10500 to sustain with good volumes the view would be to wait and watch with caution as it could be inconclusive trading sessions till then.
On the downside 9700-9840 zone becomes the short term channel support. The zone of 9000-9200 zone is the mot important support below which the counter bear rally might get negated also .
Stocks to watchout for :
SESA GOA
The stock has good resistance around 89-92 zone which if crossed could see a quick move to 100 + zones. Wait for a sustained move above 90.
Small cap stocks which are seeing good volumes near lows and can give a bounce back in stable market conditions :
Gayatri Projects , Subhash Projects , PSL Ltd , Ceat
Best Regards,
Nooresh
09819225396
noorrock2002@gmail.com meraninooresh@yahoo.com
