http://pankaj564.blogspot.com/2009/08/fwd-sensex-as-on-110809.html
i had shown parellel trend line set up yesterday and discussed abt probable 5 sub waves of upmove started from 13220. today due to weak global weakness we corrected heavily in morning but recovered smartly later to make a perfect hammer. it is a bullish candlestic pattern. it needs follow up next day.today we have closed within channel i had shown yesterday and hope for 5th sub wave is still alive.
if we look at individual stock charts like sbi, acc,tata motors,kotak bank,ambuja cement, maruti....all of them have taken support on a trendline from where they must bounce or on break of trendline chances of total bull run in those stocks come in danger.so i hope we will move up tomorrow to complete final sub wave.
when i am writing this update US markets r up by more than 1 % , that will also help us to open up.
cement, auto, banking are stronger sectors at presnt.
