Technical Analysis for 24 Feb 2009

2009 February 24

by phani

The markets have closed near the break down levels of 8850 (Sensex) and 2723 (Nifty). Any close below the same would be a sign of more difficult times ahead and also a retest of October lows will be inevitable.

The upper trading targets are placed at 9130-9357 (SENSEX) & 2808-2870 (NIFTY).

The lower supports are placed at 8850-8588-8467-8316 (SENSEX) & 2723-2669-2630 (NIFTY).

Use any rally to reduce longs and create fresh short positions.

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DISCLAIMER : Stock trading involves high risk and one can lose Substantial amount of money.The recommendations made herein Do not constitute an offer to sell or solicitation to buy any of the Securities mentioned. No representations can be made that recommendations contained herein will be profitable or they will Not result in losses. Readers using the information contained herein are solely responsible for their actions. The information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on technical analysis only.

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Technical Analysis for 24 Feb 2009

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