TECHNOLOGY left alone……

Sectors today. TECHNOLOGY……only TECHNOLOGY was the gainer of more than 3% while most of the Sector Indexes were mostly negative, leading the weakness was the FINANCIAL Sector. Financial Services sub-sector with Housing Finance and Term Lending Industry groups were the weakest. Almost all the Industry group indexes in this sector have retraced bearish divergence on the weekly charts. On the market closes at these levels, for this week. The trend of the market will change to bearishness and signal short trades in many of the prominent stocks.

In the tightly consolidating market, Leather Products Industry group outperformed above the software stocks to register more than 4% gains on its index. BATA INDIA, is very strong here. The recent value trade triggered at 234 levels is close to reaching its target and there is still more room left for this stock to reach.

There are few Industry groups which are very strong at the moment and have good potential for long trades. Broad market weakness will give opportunities for long trades here. Have a close watch on Hospital Equipments, Diamonds, Leather Etc.,

We had a recommendation for trading long on FORTIS, which was not triggered on the Tuesday's trading session. While the signal holds validity with an entry above 173 for a target of 192.50. Stop remains the same.

Sugar Industry is showing signs of minor bottom, where there is a possibility of a small bounce to value zone. BAJAJ HINDUSTAN, has good risk/reward. As this Industry is in a strong bear grip, trades here need more caution. Trade for target exit only, if there is any weakness found before reaching target; it is advisable to exit positions even with small gains.

All our holding positions have closed weak along with the broad market except for ADORWELD, which showed good strength. Stops are intact on all the positions. SUNDARAM FASTENERS, shows some shaky moves as it has given back more than 8% from the high which it reached two days back. This position fell short of target by just a tick & it was a swift move to the high's which would not have allowed exit. MACD Histogram shows strength, we shall hold on until charts give any reason for alternate exits.