( Click to View FULL SIZE)Sensex closed in green marginally up by 29 points at 13874 levels with decent volume of Rs 4808 cr..
A range bond market seen on the 1st session of the week as it traded in range of 13920 and 13830 levels.
Sensex has formed a Bullish candle with higher shadow pattern which indicates a temporary intraday weakness in the trend. It seems to be a profit booking on higher levels as Sensex does not sustain above 13900 levels. Sensex is trading in a channel for the last couple of days and still maintained the importance of the channel. As long as Sensex maintaines the channel the bias seems to be positive and 14000 levels could be witnessed. Failure of this could lead to 13180 or more lower levels.
Daily strategy: - If opens up and hold below 13930 levels then sell for the T1
of 13780 With Sl of 13940 levels.
Support 1) 13830 2) 13780 3) 13720 4) 13660
Resistance 1) 13890 2) 13930 imp 3) 13980 4) 14020