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• Raghav’s Picks :- Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 23rd September 2007

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  Raghvendra Narendra Dhoot    Group moderator

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  Raghav’s Picks :- Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 23rd September 2007

  BSE Sensex – Reuters – .BSESN
  NSE Nifty – Reuters – .NSEI
  
  The Federal rate cut and the FII buying that followed, propelled the markets into a new bull orbit altogether, much beyond our short term target of 16187.
  
  The intraday volatility fell during the week and this also helped the markets touch new highs with relative ease.
  
  Going forward, it is pointless talking about resistances and resistance levels as the Sensex has made a firm and a strong breakout above 16268.Now we need to sustain and consolidate between 16250 and 16500, so as to enable the Sensex move higher towards 17000 and beyond.
  
  The breakout that we have seen will be negated if the Sensex slips below 16000, as long as we are above 16000, 17500 in the short term and 19500 in the medium term is a distinct possibility.
  
  Incase the Sensex slips below 16000, we could see a fresh leg of correction/consolidation between 14000 and 16000
  
  For detailed market analysis, investment, trading calls and, advisory services with respect to investing in the Indian Markets, please mail me on raghav@raghavs-picks.com or use the personal message link: http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dho...
  
  • 23 Sep 2007, 1:32 pm
  Raghvendra Narendra Dhoot wrote: > BSE Sensex – Reuters – .BSESN > NSE Nifty – Reuters – .NSEI > > The Federal rate cut and the FII buying that followed, propelled the > markets into a new bull orbit altogether, much beyond our short term > target of 16187. > > The intraday volatility fell during the week and this also helped the > markets touch new highs with relative ease. > > Going forward, it is pointless talking about resistances and > resistance levels as the Sensex has made a firm and a strong breakout > above 16268.Now we need to sustain and consolidate between 16250 and > 16500, so as to enable the Sensex move higher towards 17000 and > beyond. > > The breakout that we have seen will be negated if the Sensex slips > below 16000, as long as we are above 16000, 17500 in the short term > and 19500 in the medium term is a distinct possibility. > > Incase the Sensex slips below 16000, we could see a fresh leg of > correction/consolidation between 14000 and 16000 > > For detailed market analysis, investment, trading calls and, advisory > services with respect to investing in the Indian Markets, please mail > me on raghav@raghavs-picks.com or use the personal message link: > http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dhoot