OnlineEquityCalls.com

Line Break

Technical Analyst, Prakash Gaba:

We said ‘The trading pattern for the week though positive has thrown a crucial support at 13611 and I would maintain the trend as still intact up as long 13611 holds’.

The market unfolded and remained positive during the week.

Technically the trend is still intact up and there is no sign of weakness witnessed on the charts as yet but as the market climbs higher it sets itself up for a reaction.

The crucial support for the Sensex is at 14000 and resistance to the up move is at 15000-15440.

The crucial support for the Nifty on the way down is at 4270 and resistances on the way up are at 4500-4580-4650.

From a trading point of view I would stay long as long as 14000 hold with close trailing stops to protect profits.

Source : MoneyControl

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