Markets have been rushing up very fast in the past two sessions. Today, the markets completed the 5th straight day of gains. After crossing the psychological resistance levels of 19K, the 200 DMA resistance, the sensex seems to be all set for a big move. The current rally may extend upto 19800 levels with some profit bookings in between. Does this indicate that the 4th Quarter results are going to be exceptional? Well... only time can tell that.
Around 19750-19800 levels, we may see overbought conditions and some profit bookings. Major resistance lies there.
The contracts expiry cycle is coming around which may have the volatility impact on the markets in the coming week.
The banking sector has provided quite a decent contribution in the rally with major banks like PNB, SBI, Axis Bank, etc making decent gains. Still the sector should have some strength left to continue the run.
Of Individual stocks recommended in the last two weeks, Cipla, DLF, Axis Bank, Yes Bank, Patni Computers, etc have already met targets. SO exit (or at least best a trailing stop in each) is recommended.
Some stocks like United Phos, M&M, ITC, are nearing breakout levels. So they have to be watched out for.
(http://thefallingwedge.blogspot.com/2011/03/update-outlook-on-market-stocks-next.html)
Around 19750-19800 levels, we may see overbought conditions and some profit bookings. Major resistance lies there.
The banking sector has provided quite a decent contribution in the rally with major banks like PNB, SBI, Axis Bank, etc making decent gains. Still the sector should have some strength left to continue the run.
Of Individual stocks recommended in the last two weeks, Cipla, DLF, Axis Bank, Yes Bank, Patni Computers, etc have already met targets. SO exit (or at least best a trailing stop in each) is recommended.
Some stocks like United Phos, M&M, ITC, are nearing breakout levels. So they have to be watched out for.
(http://thefallingwedge.blogspot.com/2011/03/update-outlook-on-market-stocks-next.html)
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