Thursday 24 October 2013

Daily Market Outlook

The markets corrected after breaking Monday's low, but somehow managed to sustain above the weekly s3 at 20,535-odd levels.

The overall bias for rest of the week is likely to remain positive as long as the BSE index sustains above 20,530.

On the upside, the index has near support around 20,670, and the up move may gain momentum on sustained trade above 20,880.

Today, the BSE Sensex may face resistance around 20,895-20,935-20,975, while seek support around 20,640-20,600-20,560.

The NSE Nifty may seek support around 6,150-odd levels, below which the bears may get stronger again.

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