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MTECHTIPS:-SENSEX
The SENSEX gave a negative opening in early trade on Friday, and the index managed to stage a strong come back in the final session as the investors looked to cover short positions on the last day of the week.Index is expected to open the day with small losses and the index may witness more pull back in coming days as the investors may look for value picks in beaten down stocks in coming sessions. Sensex revived more than 300 points from its intraday lows on Friday backed by good results posted by SBIN. Today Sensex has to hold 16150 -16170 levels above which 16300-16400 would seem possible. On the flip side if Sensex falls below 16050 then weakness would drag it towards15900-15850.Though chances of Sensex bottoming out from here on, cannot be ruled out.
The SENSEX gave a negative opening in early trade on Friday, and the index managed to stage a strong come back in the final session as the investors looked to cover short positions on the last day of the week.Index is expected to open the day with small losses and the index may witness more pull back in coming days as the investors may look for value picks in beaten down stocks in coming sessions. Sensex revived more than 300 points from its intraday lows on Friday backed by good results posted by SBIN. Today Sensex has to hold 16150 -16170 levels above which 16300-16400 would seem possible. On the flip side if Sensex falls below 16050 then weakness would drag it towards15900-15850.Though chances of Sensex bottoming out from here on, cannot be ruled out.
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