V good chances of sensex closing above 200dma (11180) after a very very long time, sensex has a gap down @ 11420 created on 14th Oct, 2008 which can be covered in the coming week ou r tgt sensex near term 12000,12500
Dated: October 27, 2008
SENSEX (8509)
Sensex appears to be coming to an end of its (abc) correction as per fibonacci retracements. It has strong support on the downside at 7600 and 7200. While, Any move from today's low above 9850-9900 will confirm that it has bottomed out today.
Since early September 2008, Sensex has 4 pending gaps to be filled.
These times are best for investers to buy and even for traders with a medium term target as the risk reward ratios are now all in favour of BUYS. Sensex with all probability should cover the above marked 4 gaps within the next 4-5 months.
Wishing you a very Happy Diwali and a Prosperous trading cum investment year.
SENSEX (8509)
Sensex appears to be coming to an end of its (abc) correction as per fibonacci retracements. It has strong support on the downside at 7600 and 7200. While, Any move from today's low above 9850-9900 will confirm that it has bottomed out today.
Since early September 2008, Sensex has 4 pending gaps to be filled.
These times are best for investers to buy and even for traders with a medium term target as the risk reward ratios are now all in favour of BUYS. Sensex with all probability should cover the above marked 4 gaps within the next 4-5 months.
Wishing you a very Happy Diwali and a Prosperous trading cum investment year.
