Sensex got repulsed at its 200dma 11335. But Nifty moved well above our given mark 3451. Sensex needs to move above 11335 to corroborate that it would be headed towards 12500 levels in the weeks ahead. As per the momentum indicators a correction was due in these markets. But the intraday movement suggests that these markets have been correcting on intraday basis as they dipped far too deep everyday before moving higher.
In the given situation, it is strongly a buy on decline market with stoploss as per the Stocksweekly . Fence sitters would have to wait for that correction. Existing longs are advised to book some profits at 11600 on Sensex and3675 on Nifty.
DOW has been finding it difficult to cope with the economic data. But if there is any good quarterly results from Citigroup tomorrow, would help it move above our given mark 8132. Until then!
Asian markets are also buy on decline.
Our Stocksweekly is still relevant. Trade accordingly.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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