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Support for Sensex at 16600-15800
Published on Mon, May 12 at 09:00 , Updated at Mon, May 12 at 09:06
Source : moneycontrol.com
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Technical Analyst, Prakash Gaba: We said ‘Technically the trend is still intact up but stretched on the indicators front on the short- term time frame and so I would not be surprised if we get to witness volatility’. The market unfolded as expected…the stretched market un-stretched and lost much of the flab it had collected over period of time and has generated a sell on the indicators front… Technically the market is weak and can come down in the days to come. The support for the Sensex is at 16600-15800 and resistance to the up move is at 17240 and the support for the Nifty exists 4885-4772 and the resistance to the up move is at 5100… From a trading point of view I would try to book profits and stay out… |
Sensex (17737) & Nifty (4982)Messages on Market Analysis - Technical View
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