Today Nifty closed at : (5374)
and Sensex closed at : (17879)
Now technically the market is still in sideways zone and I would say that the market should be considered with a downward bias unless it crosses 5620 with force and if it crosses then we could see 5756 levels. However the downside target is 5300-5200. From a trading point of view I would sell rallies unless 5620 gets taken out’
The market unfolded as expected and sold off all the rallies and has closed in the red for the week.
Technically the market is weak and the next logical target on the way down side is around 5200 in the days to come...technically the market has a stiff resistance around 5500 zones on the way up.
From a trading point of view all rallies until 5500 are good selling opportunities…
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