Dear friends,

We see a gap…!!!!!

Sensex has left a gap on friday between 9589 and 9703 which remains to be filled. Though we expect sensex to touch 10250+ in short term we are of the view that the gap too must be filled. So what should one do? One needs to sell at every rise to cover around gap levels.

Today, sensex has support at 9935. A fall below 9900 will mean a slide to 9825, 9640 & 9350 in worst case. Short term resistance at 10120 should first be scaled to touch 10230 which is the next logical target.

Punj lloyd – needs to stay above 750. A fall below 745 will give us a target of 710. While on the upside it needs to clear 800 to touch 825 or even 840.

India cement may touch 159. Go short at higher levels keeping strict stoploss at 163 for targets of 142 & 135.

Acc could go upto 790.

Suzlon attract strong selling around 930 – 940 range. Needs to clear 943 to achieve targets of 970 or even 1000.

M&m faces strong resistance at 580. If market is weak go short at higher levels with stoploss at 582 for target of 555. A close below 550 will mean further weakness and stock could slide to 524 & 505.

Take care!
Have a nice day!
Best regards,

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