Below 8900 ! ... Triangle breakdown ???
Sensex Technical View :
Sensex breaks the extreme short term range below 8900-8950. Technically sustaining below this level for 2-3 sessions gives a confirmation of triangle breakdown which could target 8300,7700 minimum and base size is more then 2k points so could be 7200-6500 also in worst case. For explanation check video posted below. We would look into further possibilities ( falll depth , long term implications , last fall etc etc ) only on 2-3 sessions of closing below this level.
Short term bias remains bearish and the next technical support comes around 8300-8500 in short term. Only a move beyond 9450 would change extreme short term view.
Stocks to watchout for :
Stocks with their support levels sustaining below which could give 5-15 % drop in bad market sentiments.
Hindalco .... below 47
RCAP ... below 395
RIL ... below 1060
Sesa Goa ... below 70
SAIL ... below 72.
Initiate trade only on sustaining below the given levels with a stop of 3-4 % .
Have added a new service for technical people. Check link below for more.
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LAUNCH OF WEBSITE :I have just completed creating a beta version of the site --- www.nooreshtech.co.in which would be updated with blogs , views , data,info etc on regular basis. There is a forum,chatroom, shoutbox and much more would be added soon and slowly.
Best Regards,
Nooresh
09819225396
noorrock2002@gmail.com meraninooresh@yahoo.com
http://nooreshtech.blogspot.com/
Sensex breaks the extreme short term range below 8900-8950. Technically sustaining below this level for 2-3 sessions gives a confirmation of triangle breakdown which could target 8300,7700 minimum and base size is more then 2k points so could be 7200-6500 also in worst case. For explanation check video posted below. We would look into further possibilities ( falll depth , long term implications , last fall etc etc ) only on 2-3 sessions of closing below this level.
Short term bias remains bearish and the next technical support comes around 8300-8500 in short term. Only a move beyond 9450 would change extreme short term view.
Stocks to watchout for :
Stocks with their support levels sustaining below which could give 5-15 % drop in bad market sentiments.
Hindalco .... below 47
RCAP ... below 395
RIL ... below 1060
Sesa Goa ... below 70
SAIL ... below 72.
Initiate trade only on sustaining below the given levels with a stop of 3-4 % .
Have added a new service for technical people. Check link below for more.
End of Day Data - for Metastock and other technical softwares
SMS UPDATES :http://labs.google.co.in/smschannels/subscribe/AnalyseIndia .Go to the link and subscribe to the channel. or To subscribe using your phone, SMS 'ON AnalyseIndia' to 9870807070. Use the channel and pass it to others for quick free sms.
LAUNCH OF WEBSITE :I have just completed creating a beta version of the site --- www.nooreshtech.co.in which would be updated with blogs , views , data,info etc on regular basis. There is a forum,chatroom, shoutbox and much more would be added soon and slowly.
Best Regards,
Nooresh
09819225396
noorrock2002@gmail.com meraninooresh@yahoo.com
http://nooreshtech.blogspot.com/
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