Sensex Technical View :
Sensex turned around superbly from our zone of 15300-15500 by making a low of 15330 which is BANG ON !!!
Index is up 1200 odd points since the low which is at least a clean 1000 point move up for readers who used our advice to buy in the range of 15.3-15.5k.
Also at the same time we had mentioned to increase cash at 17k which was advised to re-deploy at 15.9k - 15.3k !!!
Investors were advised to book profits and generate cash above 16500 and 17200 should now look to redeploy cash slowly below 15900 to 15500 zone.
Sensex may now face resistance at 16660 which is 61% of the current downmove. Although i would expect significant resistance to come in around 16850 mark from where the indices gave a short term breakdown.
So investors who bought in dips should take part of the profits at 16650-16850 and be ready to re-enter on dips to 16k or lower or if it crosses 17200 on closing basis.
Going through the feedback ( not able to read through thoroughly ) i noticed that some readers have asked for stock specific reviews or more. Its very difficult to give a review on all stocks discussed as i do have to take care of the ADVISoRY SERVICE for clients and lot more of our professional interests through Analyse India.
I would request if any of the readers could volunteer to do the same and make a weekly review or consolidation of the posts which could help other readers.
Bank Of India book profits , Hold on to EIH ltd. Ranbaxy trail to 400. PTC stop 107.
Rest few technical charts posted below.
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