The Sensex ended at life-time high on Wednesday backed by strong FII inflows in this calendar year.
Technically, we may see some more upside in the near term and the Sensex has given a buy signal on the weekly Fibonacci charts.
The Sensex has also given a buy signal on the yearly charts, as the index has now crossed the yearly R1 - resistance level. The bias for the rest of the year is likely to remain positive as long as the index sustains above 20,350-odd levels.
The BSE index is likely to trade with a positive bias as long as the Sensex sustains above 20,850-odd levels for the rest of the week.
On the upside, the Sensex can now rally to the yearly R2 at 21,550-odd levels.
Technically, we may see some more upside in the near term and the Sensex has given a buy signal on the weekly Fibonacci charts.
The Sensex has also given a buy signal on the yearly charts, as the index has now crossed the yearly R1 - resistance level. The bias for the rest of the year is likely to remain positive as long as the index sustains above 20,350-odd levels.
The BSE index is likely to trade with a positive bias as long as the Sensex sustains above 20,850-odd levels for the rest of the week.
On the upside, the Sensex can now rally to the yearly R2 at 21,550-odd levels.
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