Sensex Technical view :
Sensex may just seem to have gone below the momentum trendline but the range of 11600-12300 remains intact. 2-3 sessions below either range or volume based convincing move on either side will decide the next trend of the market. Monday could be the decider. Although lot of lot of divergences seen the probability of a gap-up is higher coz the short term trend is still positive.
Continue to stay on the lighter side unless you have a risk apetite to digest the volatility and big swings ahead.
Stocks to watchout for :
GMR infra reverses from 107 odd opening, GNFC crosses 75 giving a positive breakout,Fortis maintain hold. Mundra Port shoots up , MTNL small move, Central Bank down.
DCB earlier recommended at 16-18 levels did its move to 28 and now sideways in a band of 23-26. Sustaining aove 26.5 in short term may give a quick 15-20% move up to 30 levels. Traders can keep a watch next week. Also Bank of Maharashtra looks good for momentum
Speculative build-up seen in GNFC,GMDC,GSPL as possible election bets.
Aban Lloyd and Century Textiles could be performers for the day but risky bets so take care.
Investors can have a look on the following stocks as medium to long term bets in a pyramiding manner
Readers can have a look back into the following posts made some time back ! Click on the links to go to the post.Keep posting your comments and suggestions !!
- Sensex - Elliot Wave perspective
- Sensex/Hang Seng /Nikkei trippple treat
- Sensex Elliot Wave with Dow Depression