MTECHTIPS

MTECHTIPS:-
SENSEX:
The SENSEX gained strongly inearly trade yesterday, but the index
failed to hold on to the gains and soon dipped from days highs. The
Sensex managed to close with gains but the upside was capped on
Global news and inflationary fears.
The index intraday is expected to open positive taking cues from the
firm Asian markets. Sensex failed to close the gap formed due to
the negative island reversal at around 17556 levels,
showing that weakness still persists in the markets, even after a gap
up opening. Range bound trade continues in the markets as the
uncertainty factor is still around. 17200 is a strong support zone for
Sensex, below which levels of 16850 cannot be ruled out.
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