Technical Analysis of Indian Equities by Nooresh

Does Sensex know where it wants to GO !!!


There are too many opinions on the market varying from 12k to 18k which seems too huge a range !!! Well thats the problem with opinions because nobody likes to say i dont know !! 🙂
Well for now the current moves over the last few days have given no clean signals of a change of trend or continuation of the uptrend.
Simpler analysis is 15300-156000 should hold if that breaks then only can we look deeper and might actually look to exit if that happens. ( Personal opinion remains that 15500 would hold )
On the upside a move above 17k is positive. 16500-16700 remains the retracement band.
Stock Specific also we are not seeing any positive moves but a slow decline coz of indecision in the market.
Sometimes its better to just watchout then to trade. I would wait for the next week for clarity as budget and other external things to pass.

Article by Nooresh Merani

Nooresh has written 2740 articles.

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