WEDNESDAY, FEBRUARY 11, 2009
BORING BORING BE PATIENT
Sensex moves up and makes a high of 9725 close to the resistance level of 9750 and dips a bit to close arnd 9650. The breakout from the range is on low volumes so will remain range bound with supports around 9450/9280 in near term which could be 2875/2845 zone which would be levels to watch for.
While writing this Dow Jones is down 300+ points so cues would be negative but need to watch the 9280/9450 support zone for traders.
Stocks to watchout for :
Chamble, Reliance , RPL and petronet made small moves and closed flat whereas Lanco did give a small upmove. Continue to trade with lower volumes and small stocps to conserve capital and patience for a major move which may come in next couple of months.
As the range has reduced the stops should be kept at 3-5% and tgts of 10-12% as of now.
