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MTECHTIPS:-SENSEX
The SENSEX gave a negative opening in early trade on Friday, and the index dipped further on account of new shorts in almost all sectors. The index plunged well below the 16000 mark indicating more weakness in the index in coming sessions.Sensex has closed yet again below the 16000 mark and below 200WMA 16045 which is very negative if sustained. The global cues coming in from Europe and the Americas aren't helping the Indian markets in anyway. Today Sensex has to cross and hold 16000 so as to make a possible positive move towards 16200 and 16300 .However on the flip side if the Sensex doesn't find support at 15910 and falls further below, then selling pressure would creep in and drag it towards 15750-15500 which would mean that the markets would be towards lowest levels since January 2012,. Low of 2012 is 15358 and lowest in 3years is 15135 if these levels are breached then major correction on cards.
The SENSEX gave a negative opening in early trade on Friday, and the index dipped further on account of new shorts in almost all sectors. The index plunged well below the 16000 mark indicating more weakness in the index in coming sessions.Sensex has closed yet again below the 16000 mark and below 200WMA 16045 which is very negative if sustained. The global cues coming in from Europe and the Americas aren't helping the Indian markets in anyway. Today Sensex has to cross and hold 16000 so as to make a possible positive move towards 16200 and 16300 .However on the flip side if the Sensex doesn't find support at 15910 and falls further below, then selling pressure would creep in and drag it towards 15750-15500 which would mean that the markets would be towards lowest levels since January 2012,. Low of 2012 is 15358 and lowest in 3years is 15135 if these levels are breached then major correction on cards.
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