The markets are precariously poised in the near-term, as the BSE index seems to have taken support around the weekly Fibonacci level, while at the same time facing resistance around the monthly Fibonacci charts.
In other words, going ahead, Monday's high and low are likely to be crucial for the markets.
In case, the Sensex is able to clear hurdle around 20,975-odd levels, the index can spurt to 21,050-odd levels, above which the bulls will get stronger.
However, in case, the Sensex slips below 20,760-odd levels, then the index may drop to 20,670-odd levels or further lower to 20,550-odd levels.
Read the full analysis here.
In other words, going ahead, Monday's high and low are likely to be crucial for the markets.
In case, the Sensex is able to clear hurdle around 20,975-odd levels, the index can spurt to 21,050-odd levels, above which the bulls will get stronger.
However, in case, the Sensex slips below 20,760-odd levels, then the index may drop to 20,670-odd levels or further lower to 20,550-odd levels.
Read the full analysis here.
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