Posts
MTECHTIPS:-SENSEX
The SENSEX gave a positive opening in early trade on Wednesday, and the index traded in a very small range in early session. Sensex witnessed sharp decline in the final hours, as the index slipped on selling pressure at higher levels.The index intraday is expected to open negative taking cues from the firm Asian markets. Sensex could not cross the 17450 levels it made an intraday high of 17432, which could not be sustained either suggesting that there was intense selling pressure on the markets. Today Sensex has to hold on to 17330 levels and thereabout to move towards 17400 and 17500 ,failing to which 17250-17175 can be probably possible as the gap down caused due to the island reversal caused 19 trading sessions ago is still not filled and the descending triangle is also intact which is a sign of weakness.
The SENSEX gave a positive opening in early trade on Wednesday, and the index traded in a very small range in early session. Sensex witnessed sharp decline in the final hours, as the index slipped on selling pressure at higher levels.The index intraday is expected to open negative taking cues from the firm Asian markets. Sensex could not cross the 17450 levels it made an intraday high of 17432, which could not be sustained either suggesting that there was intense selling pressure on the markets. Today Sensex has to hold on to 17330 levels and thereabout to move towards 17400 and 17500 ,failing to which 17250-17175 can be probably possible as the gap down caused due to the island reversal caused 19 trading sessions ago is still not filled and the descending triangle is also intact which is a sign of weakness.
No comments:
Post a Comment