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Support for Sensex at 16423: Gaba

Published on Fri, Nov 20, 2009 at 08:49   |  Updated at Fri, Nov 20, 2009 at 08:51  |  Source : Moneycontrol.com
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Technical Analyst, Prakash Gaba:

BSE Sensex (16786): We said ‘we are expecting a strong move now and it’s either up or its down, stops will get triggered and that should move the market’. The market unfolded weak after a 3 days of selling pressure and triggering stops and the market closing right on our support of 4990 like a dot, so far the market looks down and we may see some volatility.

The crucial support for the Sensex is at 16423 and logical technical target at 16960.

Nifty (4989): The crucial support for the Nifty is at 4873 and logical technical targets at 5040.

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