Muted start basis global cues and volumes pretty much unchanged from yesterday. A sudden spike up came in when Europe opened in the positive territory. Sectoral churns as usual for most of the day but bell weather stocks still making hay. BNF, Infra and related stocks witnessing remarkable recovery from the lows of the day.VIX hovering around 23 which is pretty much a respite for bulls.
Critical levels and outlook remain unchanged.
Today was the 2nd consecutive close above the 5150-5177-5196 band and hence one may expect more upside from here towards the 5280 region - hats off bulls for pulling this off [who have literally defied gravity in the last 4 weeks!]
4th milestone cleared in 4 weeks
A] 2 consecutive closes above 4840-4880 band
B] 2 consecutive closes above 4944-4994 band
C] 2 consecutive closes above 5032-5092 band
D] 2 consecutive closes above 5150-5177 band
Unless there are negative triggers, at a minimum upside can go to 5280 levels; momentum going in favor of bulls [volumes are coming in courtesy shorts] and the over-bought signals still remain stagnant. Gap-downs are getting plugged within the same day or next where as up-gaps are pending since 10th Jan '12.....
Only a close below 4880 can revive hopes of plugging the gap-ups
Panic to enter the system only with a close below 4690 [far away from where we are right now!]
Critical levels and outlook remain unchanged.
Today was the 2nd consecutive close above the 5150-5177-5196 band and hence one may expect more upside from here towards the 5280 region - hats off bulls for pulling this off [who have literally defied gravity in the last 4 weeks!]
4th milestone cleared in 4 weeks
A] 2 consecutive closes above 4840-4880 band
B] 2 consecutive closes above 4944-4994 band
C] 2 consecutive closes above 5032-5092 band
D] 2 consecutive closes above 5150-5177 band
Unless there are negative triggers, at a minimum upside can go to 5280 levels; momentum going in favor of bulls [volumes are coming in courtesy shorts] and the over-bought signals still remain stagnant. Gap-downs are getting plugged within the same day or next where as up-gaps are pending since 10th Jan '12.....
Only a close below 4880 can revive hopes of plugging the gap-ups
Panic to enter the system only with a close below 4690 [far away from where we are right now!]
1 comment:
U may jus get ur wish in a few days ;-)
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