Re: Sensex TECHNICALS
june quarter to end positive
expectation of a bull move upto somewhere around 4140,was mentioned here ,a few posts earlier, but frankly,this was a little too much !!!!, reason was simple though, too good election results and bears were trapped in far away range of 3530-3720,,so huge short covering was imminent, so bulls never wanted bears to escape easily.i expect a short -med term corrective range bound markets ,before another bull move maybe upto 4600-4800 range, around june.i expect this beacause of few factors,1) good monsoon symptoms again(agricultural boost wil be a big helping hand for the new govt.),2) budget expectations ,3 ) first 100 days, agenda of the new govt. 4) as usually technical reason,that is a SUPER morning doji star pattern in indices on quarterly charts( q ending june -09)., being developed.
sensex reaching and getting some resistance again at 2.618 levels of the last leg of downfall on WEEKLY CHARTS.