Correction is must now.
After BSE Sensex yesterday, today it was Nifty's turn to have a life time high closing.
This is for the second time in past one month that the Sensex is facing resistance at 7350 levels. Resistance at 7350 is too high and sensex may not be able to break out even this time. If sensex closes above 7350 tomorrow the it may pass 7450 by next weekend. But if the closing is below 7350 tomorrow then long due correction will start. This correction may take sensex to around 7100-7150 in levels few session or even lower.
Post correction fresh rally will take sensex to 7500+ level. Partial profit booking is advised in all profit making positions. Start buying on dip below 7200.
This is for the second time in past one month that the Sensex is facing resistance at 7350 levels. Resistance at 7350 is too high and sensex may not be able to break out even this time. If sensex closes above 7350 tomorrow the it may pass 7450 by next weekend. But if the closing is below 7350 tomorrow then long due correction will start. This correction may take sensex to around 7100-7150 in levels few session or even lower.
Post correction fresh rally will take sensex to 7500+ level. Partial profit booking is advised in all profit making positions. Start buying on dip below 7200.
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