Weakness only when trades below "Day High ema" which might rise to 4690-4700 for Monday.
It has stopped at the resistance of 4640. Any further upmove will suggest of a completion of running corrections and much higher levels. If not some consolidations in the coming days before moving higher. Though Nifty cleared the previous high of 4727, Sensex is still not cleared its previous high of "16002".
Based on the world market's view, the options will play out..
This negative div. if not negated with a strong upmove can correct towards 4650-4580 and still keeping the uptrend.
1 comment:
Yes, Sensex has not crossed 16002.00
In December last week '2008" Lokeshwari has given view at exactly sensex level of 16000.00 at her "Investment Focus" column "Sensex outlook for 2009 and she has mentioned that "We will re-visit out outlook on a breach of either of these limits" She is absolutely right..
And she wrote about DOW also..but what she mentioned about wave counts are difficult to me to understand... If u have any details please post it here compare with DOW
Thanks and regards
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