Triangle formation !!! … Watch for confirmatory moves in 6-8 sessions.

Sensex Technical View :
In the last so many posts i have been discussing this triangle and trendlines. 9000-9200 as a bottom support was on this and 10400 the upper end target. This has helped us time our trades excellently.
Above chart shows some of the main triangle formations seen on the charts and how targets were achieved. In the video around 16k had explained impact of triangles and exit advised.Again we saw it arnd 14k although support tgt of 11k was broken.
Also a move frm 16.3k to 17.7 k was picked by us through the triangle breakout.
For a change this time around markets have come out of the timewise pattern of 50 odd sessions ( 10-12 ) of downmove and 30-40 sessions of counter upmove ( 4-8 weeks) and also the triangle breakouts which were seen only on downside is now shaping on the other side.
Such a triangle breakout suggests a minimum tgt of 10600 -10900 as mentioned yesterday. The moves in next 6-8 sessions would confirm whether the breakout has strength to hit the upper channel limits!! of 12k.
Too late for updating more ( its 3 am ) . Will discuss on long term cycle, fibonacci retracements , waves , time analysis in the week or by weekend with a detailed view.
Stocks to watchout for :
ABB ,ICICI inching up slowly to higher levels, Kotak IDFC couldnt do much , Yes Bank moved of the discussed stocks .
SCI, Ge Shipping were surprise gainers as expected knocking 10- 15 % in short term. FSL also inching up slowly !
Cement stocks have seen good volumes built up today ( we traded grasim 1270 to 1340-1370 still on hold ).
Mangalam Cement , Jk Lakshmi , Kesoram could see some action in coming days. Traders can look for small gains.
Sugar stocks continue to be positive on charts Bal chini could head to 55-60 , Renuka 85, Triveni 60 on higher side also.
Sintex Inds if able to sustain 210 could tgt 240 levels.
Tata Motors above 192.5 can go till 205-215 zones.
Traders do keep your stoplosses of 3-6 % as per risk apetite and timing of positions to keep discipline. Book partial profits on resistance /tgts and trail to ride the position.
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