Indices

Thursday, June 16, 2011

INDICES:

SITTING ON NECKINE:

Sensex & Nifty closed 17985.88 & 5396.75 respectively on 16/06/2011. It closed very close to neckline of bearish H & S pattern as per chart attached.

Neckline in sensex is around 17920 levels & in nifty it’s around 5350 levels. Close below it will finally confirm down trend in the market with momentum & we are heading for target of 16200 levels on sensex & 4800 levels on nifty in medium term.

Trader should exit all longs & create fresh shorts below neckline.

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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