Market Review for 21st August 2009

BSE Sensex: (15012) we said ‘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’ nothing that happened in trading on Thursday has changed the set up…technically market has returned from a strong technical resistance… the day ahead is a Friday and the market has traded range bound the entire week and so Friday should be crucial and so far the bias is Down…

The logical target for the Sensex is 14915-14685-14234 and the resistance is at 15256-15575

Nifty: (4453) the logical target for the Nifty is at 4359-4247 and resistance is at 4533-4632

Labels: Market Review

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