Weekly Review for the Week April 6th – 9th April 2009
We said ‘Technically the trend is still intact UP with no signs of weakness as yet; we now head into the financial year-end on 31st March. The next technical targets in the days to come are 10201 and the extended technical targets at 10708, where profits bookings can be anticipated’
The market unfolded as expected moving up and achieving our target of 10201 and proceeding towards our extended technical target of 10708 with force.
Technically the trend is still intact up and our target of 10708 stands valid and if the momentum continues then I would not be surprised if the market proceeds up towards the next technical target of 11295 in the days to come
The supports are at 10125 and resistance to the up move is at 10708-11295
The supports on the way down are at 3090 and resistances on the way up are at 3451-3527
From a trading point of view I would stay long with close trailing stops to protect profits
source: Prakash Gaba
Tags: bse, market next week, nifty, nse, prakash gaba, resistance, sensex
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