Bse Sensex 14401
Negative <>
In the last week’s analysis, we had pointed out that the Sensex is likely to weaken further towards 14350-14150 area. This we have seen happening with a low of 14136 posted on Thursday & a recovery thereafter.
On Friday, the trading was confined to a small range (after a big sell off) near to the lower end of the rising parallel channel. Therefore now a move over 14300 (min value of trend line) would lead to a positive efforts in the near term, within the overall negative trend.
Expect a corrective up move towards 14.7k (min) to 15k (max), at least, in the next few trading sessions. Keep a stop of 14150 for the trading (long) positions.
In the last week’s analysis, we had pointed out that the Sensex is likely to weaken further towards 14350-14150 area. This we have seen happening with a low of 14136 posted on Thursday & a recovery thereafter.
On Friday, the trading was confined to a small range (after a big sell off) near to the lower end of the rising parallel channel. Therefore now a move over 14300 (min value of trend line) would lead to a positive efforts in the near term, within the overall negative trend.
Expect a corrective up move towards 14.7k (min) to 15k (max), at least, in the next few trading sessions. Keep a stop of 14150 for the trading (long) positions.
