Tech View: Up trend to continue!!

Sensex closed in green, up by 56 points at 13185 levels with decent volume of 4272 cr.

It was a choppy session on first day of week as Sensex opened with upside gap and slipped towards days low and again bounced back and managed to close in green.
It has formed a Body Gap up pattern which indicates the continuation in the up trend will remain as it is.
So far seen, Sensex has forming a Continuation pattern for last four days against 3 days rally started from 26th of Oct 2006 to 31st of Oct 2006 and maintained the important support of 12920 levels. This gives us a positive signal for the up trend. A small correction above 12920 levels on intraday basis but overall bias looks positive as long as Sensex hold 12930 levels.


Intraday Strategy :- if opens down and hold above 13100 level then buy for the target of 13260 level with sl of 13080 level.