Market Review for 20th August 2009

BSE Sensex: (14809) we said ‘and on the other hand any close below 14785 would confirm the down move…so it is a catch 22 situation with bearish bias’ the market unfolded negative but it has still not closed below our crucial support…indicators wise it is still down and a move below 14685 is likely to be a water fall kind…. the setup is in the making but will it happen?

The logical target for the Sensex is 14685-14234 and the resistance is at 15078-15256-15575

Nifty: (4394) the logical target for the Nifty is at 4359-4247 and resistance is at 4472-4533-4632

Labels: Market Review

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