Sensex Technicials

If the recent low is not broken we might see this up move extending towards the resistance line of the channel. That is how price has behaved in this channel so far, so the cycle may get repeated again. But a word of caution for bulls is that price has not hit the channel bottom yet.

Watch out :
15800 is key support going back in 2009,And voilating those levels below on closing basis around 15300 will be carnage on sensex.

Around these levels we have vacuum levels that needs to fill.So expect the unexpected price levels on sensex.When it hits around 10000 levels then its best time to load up on consumer cyclicals,Agri, metal and mining.

Previous Post : http://gamatraders.blogspot.com/2011/06/market-correction-or-collision-course.html when sensex was close to 19,000 and Nifty 5500 levels.




Good Luck Happy Trading.