AKD TriggerShark Jul 16, 2013 Bullish Picture Short-Term: Picture remains bullish above 22,853 — 22,648 levels, sighting possibility for 23,682 — 23,725 levels. Additional strength beyond the aforementioned range would open way towards 24,391 level. Internal support resides around 23,059. A relapse below 22,648 is needed to shift the outlook to a neutral / corrective stance. Buy on weakness up to 22,853, with risk below 22,648 level. General View: A series of higher highs and higher lows indicate continuation of bull trend possibly towards 23,682 level. Nearby support resides around 21,900 level. On a larger degree, we see the primary impulse striding for 25,000 level. However, to ride this wave, investors should keep enough room (buying power) for intermediate correction up to 20,300 — 19,500 levels —coinciding with the cloud support. We find strong potential in ENGRO, PSO, PTC, SNGP, MARI, NRL, EPCL, and BOP.
Posted on: Tue, 16 Jul 2013 05:35:43 +0000