Market Review for 18th August 2009

BSE Sensex: (14785) we said ‘the market structurally is still not very strong as we have a overhang of a strong resistance at 16046’ to me 15000 was a very crucial support to deal with and the market breached it…it is just not the breach of the 15000 mark but the way it has broken with bear gap has crucified the market…again these are strong words to use but that is the way I see it…last weeks Wednesday and Thursday were the only 2 choppy days that triggered many tight stops…

The logical target for the Sensex is 14731-14234 and the resistance is at 15046

Nifty: (4388) the logical target for the Nifty is at 4325-4247 and resistance is at 4468

Labels: Market Review

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