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Prakash Gaba
His Motto : Never give up, it’s so easy, anyone can do that...
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Certified Financial Technician and a Trader

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Home > Weekly Review

Weekly Review


Weekly Review for the Week March 8th - 12th 2010

Nifty: (5089)

Sensex: (16994)

5.3.10

 

We said ‘Technically the bar generated for the week is a positive bar with an overhang of selling pressure near the 5100-5150 levels but I would keep my eye on the crucial support of 4850 for the first sign of weakness’

 

The market unfolded positive as expected and has stopped in our 5100-5150 ranges.

 

Technically the trend s still intact up but looks like the market is likely to find some selling pressure near the 5175 levels and support around 5000 levels…so looks like more of a sideways trend…

 

The support for the Nifty is 5000-4850 and strong resistance at 5125-5175                  

 

The support for the Sensex is at 16700-16500 and strong resistance at 17322 

 

From a trading point of view I could trade long as long as 5000 holds…