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MTECHTIPS:-SENSEX
The SENSEX gave a negative opening in early trade on Wednesday, and the index did not stage a pullback rally, as investors booked profits and short sellers strengthened their
positions.The index intraday is expected to open flat to positive taking cues from the firm Asian markets. Sensex has made a low of 15974 as the 16000 mark was breached within no time when the selling pressure got intense during yesterday’s trade. Sensex has to hold onto levels of 16100 so as to make some rally possible towards 16275 and 16400. However on the flip side if Sensex fails to cross and hold 16050 then weakness could drag he markets lower and levels like 15880-15700 would become inevitable.
The SENSEX gave a negative opening in early trade on Wednesday, and the index did not stage a pullback rally, as investors booked profits and short sellers strengthened their
positions.The index intraday is expected to open flat to positive taking cues from the firm Asian markets. Sensex has made a low of 15974 as the 16000 mark was breached within no time when the selling pressure got intense during yesterday’s trade. Sensex has to hold onto levels of 16100 so as to make some rally possible towards 16275 and 16400. However on the flip side if Sensex fails to cross and hold 16050 then weakness could drag he markets lower and levels like 15880-15700 would become inevitable.
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