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Tuesday, October 28, 2008


Big H&S on Sensex weekly chart. Its target was 8100 and on 27 Oct 2008, sensex did achived it. It went 400 points below the tgt of 8100 during Intraday trading but closed well 400 points above the tgt.So will it be the bottom for this correction? But good thing now is that it should move up now. In Any case, we can see recovery now upto 12250-12500 range. Hurdles in between are 9480, 10660, 11500 .Also, Friday saw the second biggest single-day cut of 1071 points on the Sensex. The biggest single-day cut was on 21st Jan of this year, after which Sensex made a short-term bottom on the very next day, and recovered 23% within two weeks.Similar thing happened today, Now can we see some rise like 20% from current levels.
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