Saturday 23 November 2013

Weekly markets outlook

The markets have been in a downtrend for the last three weeks, and are likely to extend the losses in the near term, as key technical indicators remain in favour of the bears.

The Sensex has given a sell signal on the monthly charts and is now likely to dip below the 20,000-mark. The BSE index may seek some support around 19,950-odd levels, below which a free fall to 19,400-odd levels cannot be ruled out.

As per the weekly Fibonacci charts, next week, the Sensex may seek support around 19,915-19,820-19,725, while on the upside can face resistance around 20,520-20,615-20,710.

Click Here for the weekly market outlook.

No comments:

Post a Comment