Sensex Technical View : 

Yet again markets have reacted from the upper end of the triangle. Although the triangle seemed to be broken the confirmatory moves did not come. Now Sensex is coming close to the lower end of the triangle.

The extreme short term trendline comes to around 9500 and other comes closer to 9300.

The recent most low comes around 9162.

So we again need to watch the zone of 9300-9500 and see whether index gives a reversal from the zones or not.

A 3-4 session closing move below 9200 would mean a breakdown on downside and open up gates to 8300/7700 or lower also technically.

Similarly a move beyond 10500 gives a target of 10900/11650 +.

In the next couple of weeks we might see a move which tries to break on either side. So be prepared to react then to try predicting in a volatile environment.

Stocks to watchout for :

As index is near lower zones discussing large caps and their levels. Lot many stocks have come closer to recent trendline supports. Need to watch recent lows corresponding to 9162 Sensex.

The support for Reliance comes around 1155-1140 zone in near term if sustains below it can drop to 1020-1050. The major probs would be seen below 1020 only.

RCOM support is around 196 /184 . Sustaining below 184 would mean big trouble.

LnT important support around 720-740 zone