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MTECHTIPS:-SENSEX
The SENSEX gave a negative opening on Wednesday taking cues from the world markets, and the index traded in a small range throughout the trading session. The index failed to trade in the green, as traders were seen piling up sell side trades, and the index closed around day’s lows with losses.Sensex has made a lower high and a lower low which is a negative sign, and closed lowest in 8trading days. Today Sensex to be positive has to hold 18620 and cross 18740, However if 18610 is broken then some selling pressure could come in and the low of 18450, if breached then we can see correction below 18040 can be fastest. Weekly chart indicate selling pressure in next few days. In last 2 years 1st week of correction with Open & high same has corrected big and this week Open and high is same and correction comes after 5week rise.
The SENSEX gave a negative opening on Wednesday taking cues from the world markets, and the index traded in a small range throughout the trading session. The index failed to trade in the green, as traders were seen piling up sell side trades, and the index closed around day’s lows with losses.Sensex has made a lower high and a lower low which is a negative sign, and closed lowest in 8trading days. Today Sensex to be positive has to hold 18620 and cross 18740, However if 18610 is broken then some selling pressure could come in and the low of 18450, if breached then we can see correction below 18040 can be fastest. Weekly chart indicate selling pressure in next few days. In last 2 years 1st week of correction with Open & high same has corrected big and this week Open and high is same and correction comes after 5week rise.
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