Sensex is trying to form a bottom @ 17500-18450 range.
Any breakout above 18500 on closing basis could form another leg of rally and any closing below 17500 would imply further bearishness on the downside.Also, feb expiry is due on thrsday , thus a sharp short covering is possible if no further downside is seen.
During march series onwards futures and options will get settled in delivery thus shorts may get flushed out .
21.2.2011
