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Extreme near-term traders need to look at minor pullback of the fall from 20443 to 19568 before making way for a correction down to 19284 or 18989, says Technical Analyst Hitendra Vasudeo.
A support attempt may be seen at 18000. The slide will extend below 18000. A pull-back is in progress and how much it spikes is to be seen, says Technical Analyst, Hitendra Vasudeo.
Traders short on the Sensex and index related stocks may keep the stop loss at 19500. Exit long and sell on a rise to 19041-19288 with a stop loss of 19500, says Technical Analyst, Hitendra Vasudeo.
Traders short on the Sensex and index related stocks may keep the stop loss at 19800. If the opening is above 19100 and the Sensex falls below 19100, then sell with the high of the day as stop loss or 19800 whichever is higher, says Technical Analyst, Hitendra Vasudeo.
Support may emerge around 19100 for Sensex, says Hitendra Vasudeo. A fall and close below 19100 on daily and weekly charts may extend the slide and correction.
Last week, the BSE Sensex opened at 19860.97, attained a high at 19902.59 and fell to a low of 19414.80 before it closed the week at 19484.75 and thereby showed a net fall of 296 points on a week-to-week basis. Correction may continue with volatility, says Hitendra Vasudeo.
Exit long on rise to 19907 or above. Traders can buy above 20210 or sell on rise to 19907-20077 with a stop loss of 20210. Expect the lower range of 19610-19143 to be tested with volatility, says Technical Analyst, Hitendra Vasudeo.
At higher range profit booking should be looked at as Sensex hits 20300-20500 range. Hold long positions with a stop loss of 19800. Use rise to higher range of 20300 for profit booking, says Technical Analyst, Hitendra Vasudeo.
Rise to continue with intra-week volatility. Hold long positions with a stop loss of 19500. Corrective dips to weekly support of 19951-19776 can be used for buying with a stop loss of 19500. Profit booking at 20444 or above could be undertaken, says Technical Analyst, Hitendra Vasudeo.
The high registered last week was 19856 against the 78.6% retracement level of 19811. Subsequently, we saw a reaction during the week respecting the 78.6% retracement level. Further rally may continue on a rise and close above 19900, says Technical Analyst, Hitendra Vasudeo.
The weekly resistance will be at 19918 and 20310. Weekly support will be at 19662, 19527 and 19100, says Technical Analyst, Hitendra Vasudeo.
Hold long positions with a stop loss of 18200. Correction to weekly support range of 19087-18715 can be used for buying. Further upside momentum may resume above 19700.
Moneycontrol.com got technical analyst Hitendra Vasudeo to answer the stock queries you sent us on our Facebook page as part of KYI (Know Your Investment).
Weekly resistance will be at 16425 and 17006 for the BSE Sensex. Weekly Support will be at 16117, 15844, 15800 and 15262, says Hitendra Vasudeo, Technical Analyst.
Hold short position with a stop loss of 17000. Exit long and sell on rise to 16490-16747 with a stop loss of 17000. Cover short positions at 16036-15326 range, says Hitendra Vasudeo.
Retracement levels are being tested and if a recovery comes from the current level or from 16257 or from projection levels of 16167 or 15711 may show reversal to move higher near 18523.
For the time being, traders and investors need to keep their fingers crossed and wait for directional movement, which will have to be above 17664 or below 16900, says Technical Analyst, Hitendra Vasudeo.
Retracement level of 16823 and 16423 will be tested. A rise and close above 17688 may mark a reversal. But till then, we may continue to see sideways volatility with support/retracement level to be under pressure, says Technical Analyst, Hitendra Vasudeo.
The support zone is now the base for the near-term to short-term rise. Violation of the support zone will result into a sharp and sustained fall, says Technical Analyst, Hitendra Vasudeo.
Volatility to continue, says Technical Analyst, Hitendra Vasudeo.
Fresh buying can be undertaken on a rise and close above 18100. Alternatively, traders may take chance to buy at 17248 with a stop loss of 17000, says Technical Analyst, Hitendra Vasudeo.
A fall and close below 17000 can accelerate the slide, says Technical Analyst, Hitendra Vasudeo.
The pullback may get extended towards 18827 or higher, says Technical Analyst, Hitendra Vasudeo.
Hold long positions with a stop loss of 16600. Traders can book profits at retracement level 17417, 18122 and 18827 levels or at the 200-day SMA of 17331 as the opportunity arises, says Technical Analyst, Hitendra Vasudeo.
The broad objective may be to test the 200-day EMA and SMA, which are placed at 17096 and 17384 respectively, says Technical Analyst, Hitendra Vasudeo.
