Sensex – Will it pause at 19350-19500 or go to 18800


Sensex Technical View:

The parallel line as well as the breakout point of 20200/19900 was broken with too much ease is a matter of concern we got stopped out at 19990.

In the short term all trades got stopped out but that gives a fresh view to traders. Cash is also a position.

As of now one needs to wait for next few sessions for reversal signals which i expect in next 2-3 sessions.

The long term strategy remains the same Buy on DIps and Sell on Rise.

Stocks to watchout for :

ICICI Bank on 1050-1010 and SBI at 2600-2450 look interesting for medium term.

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