The Sensex has traced the route from below 18200 to above 20000 in just less than 20 trading days. It being completely unidirectional one-way route without even a single day of more than 1% loss. Now its time for some profit booking. History has it that index has to correct after such a big unidirectional one way upmove. 3% correction to the upmove brings it to the level of 19550. The other less probable situation is wherein the market would trade 20000 - 202000 levels for more 10-15 days.
Saturday, May 11, 2013
Sensex to move towards 19500 now
The Sensex has traced the route from below 18200 to above 20000 in just less than 20 trading days. It being completely unidirectional one-way route without even a single day of more than 1% loss. Now its time for some profit booking. History has it that index has to correct after such a big unidirectional one way upmove. 3% correction to the upmove brings it to the level of 19550. The other less probable situation is wherein the market would trade 20000 - 202000 levels for more 10-15 days.
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