Weekly Review for the Week
Gandhi Kutir
BSE Sensex:
(14303)
Nifty (4215)
18. 05. 2007
Technically the market is still in sell mode but structurally...the
place for a bounce back is just right...it may take some time in these
sideways regions but the down side seems to be limited and on the
upside the market may proceed to 14050-14185 levels in the days to
come. The support for the Sensex still is at 13594-13499-13311 the
resistance to the up move at 14050-14185-14255-14356'
The market unfolded as expected and continued to climb to our regions
and has stopped just right near our resistance of 14356...the high is
14353...so far so good...
Technically the trend is still intact up and looks like it is just
pause before it decides to assault its all time high of 14724...thee
exists a strong support at 14150 levels...
The support for the Sensex still is at 14150-14050 the resistance to
the up move at 14609-14727
The support for the Nifty is at 4135 the resistance to the up move at
4282-4316
>From a trading point of view I would continue long having trailing
stops below strong supports...