There was a quite a bit of news flow after the markets closed on Friday, that has negative short term implications for the markets – fresh problems in Hungary, US markets and US jobs data and the move towards 25% public shareholding on the domestic front – all these do not bode well for our markets in the near term.
But, given the pace of the recent run-up in our markets, there is a scope for a decent correction, at the current levels, without affecting the overall technical setup and the 17500 target.
The Sensex has supports at 17077, 16989 and 16773 and on the upside, major resistance at 17286.
But, given the pace of the recent run-up in our markets, there is a scope for a decent correction, at the current levels, without affecting the overall technical setup and the 17500 target.
The Sensex has supports at 17077, 16989 and 16773 and on the upside, major resistance at 17286.
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