Indices

Monday, November 14, 2011

INDICES: BSE MIDCAP: ( Begining of Fresh down side fall)

BSE Midcap closed @ 6126.35 on 11/11/2011.

BSE Midcap broken out of bearish rising wedge pattern in wave-C on down side, it looks ABC pull back is completed as per chart attached. Daily KST also went in to sell is additional confirmation for the same.

One should keep SL-6318 for the short term target of -5700 & & medium term target of 5300 below it.
It has also underperformed the sensex in last month, it looks from other chart attached.

One should book profit & also create fresh shorts in selected BSE Midcap stocks in which pull back looks over for lower levels target.

Disclaimer

The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Devang Shah . The information contained herein is based on my analysis of the Charts. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it. The Investment discussed & recommended on this website may not be suitable for all. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent Views, as they believe necessary.
While acting upon any information or analysis mentioned on this website, investors may please note that neither Devang Shah nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. I may hold long or short positions in the securities/commodities discussed herein from time to time. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities.

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