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MTECHTIPS:-SENSEX
The SENSEX gave a positive opening in early trade on Monday, and the index sustained the gains and tested more highs in early part of the session. Some profit taking was seen at higher levels pushing the index down in the final hours and capping the gains.Sensex failed to sustain its intraday high of 16298 and closed at 16183, which suggests that weakness still prevails in the market. Today Sensex has to cross and hold levels of 16210-16220 and capitalize from there on, Failing to which selling pressure could drag the Sensex down to 16100 and even 16000 levels, as negativity cannot be ruled out in such tricky market conditions. The island reversal caused 32 trading session sago is still open which is haunting the markets at all times.
The SENSEX gave a positive opening in early trade on Monday, and the index sustained the gains and tested more highs in early part of the session. Some profit taking was seen at higher levels pushing the index down in the final hours and capping the gains.Sensex failed to sustain its intraday high of 16298 and closed at 16183, which suggests that weakness still prevails in the market. Today Sensex has to cross and hold levels of 16210-16220 and capitalize from there on, Failing to which selling pressure could drag the Sensex down to 16100 and even 16000 levels, as negativity cannot be ruled out in such tricky market conditions. The island reversal caused 32 trading session sago is still open which is haunting the markets at all times.
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