Sensex Outlook - Oct 2010

Sensex zoomed in September despite the global concerns, yen outlook or retail shareholder selling of 13,000 crores.

My prediction for october - Downward bias.

High range 21650 - 21850 range; strong resistance at 20850-950 range.
Downside of 3 to 5% can be expected if FIIs turn as sellers., then we can test 18500 to 19200 range.

My pick for the month - Buy Century Textiles - Entry 500 to 508 - upside 535 to 548; SL 492-495;

Sell Bank of India 540 to 548 range for a target of 503-511 range SL 565.

Update on Oct 6 - BoI stop loss triggered.