Back in volatility groove 18100-17000: Vasudeo

Technical Analyst, Hitendra Vasudeo:

Last week, the BSE Sensex opened at 17772.10, attained a high of 18040.69 and fell to a low of 17426.58 before it finally closed the week at 17466.20 and thereby showed a net fall of 37 points on a week-to-week basis. After the high of 18523, we have witnessed 4 weeks of back-to-back fall on weekly closing basis in spite of the volatility.

The immediate range now is 18100 and 17000. The broad volatility range can be 18523 and 17000. Expect the lower range of 17248-16634 to be tested before making an attempt to move up higher above 18100. Resistance for the week will be at 17644-17862-18100.

The Sensex at the end of the week was not able to show strength as a result of which it has once again got entangled in the sideways volatility.

Last week