The continuous winning streak through out the last week was arrested on Friday as market was extremely overbought. However the market closed for the week on a bearish note. The 5700 level will act as a key support, which if breached for two to three sessions on big volumes will result in the end of the bullish trend. Ohterwise the market has clearly turned from a sell on rally to buy on dips. If it manages to cross 5875 levels conclusively in the coming week, a new high for the April series cannot be ruled out.
No comments:
Post a Comment