Technical Analysis of Indian Equities by Nooresh

Negative Bias remains till its below 2925/9650.

Sensex Technical View :

Sensex continues to remain in the negative trend in short term and sustaining below for few more sessions would open up a lower targets of 8300 or more. Upmove would face resistance at 9300-9450 and uptil 9650. For Nifty this would be 2820/2860 and 2925.

Only a move sustaining beyond the upper resistances would question the triangle breakdown alternative.

Strategy should be to hold on to cash and wait for the next few weeks as a triangle breakdown gives much lower targets.

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Article by Nooresh Merani

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