IPO India Information (BSE / NSE)

Sunday, April 28, 2013

Weekly analysis of Sensex: 29th April to 3rd March 2013




The market  will  looking sluggish this week the resistance of 19712 will be a major resistance for this week the market is expected to have  18624 as a support at lower side. we are seeing a negative divergence in in Sensex, this may drive to 18624.


 Am I bullish on Sensex?
No, I expect a consolidation. We are seeing a risk building out in Sensex, as per me this week is the week for profits booking. Most of the short term players may book profit this week.



How much consolidation is good for Sensex?
18510-18000 need to be the support below which market is not healthy to grab. If market manages to consolidate below 18000 levels we may see a free fall upto 17500/16900.