Further uptrend possible
On Tuesday, the benchmark indices witnessed a pullback rally. BSE Sensex was up by 563 points
image for illustrative purpose
Mumbai: On Tuesday, the benchmark indices witnessed a pullback rally. BSE Sensex was up by 563 points. Among sectors, some buying interest were seen in selective FMCG, and Infra structure stocks whereas despite strong momentum PSU bank index corrected sharply, shed nearly two per cent.
"Technically, after a positive opening the market held the positive momentum throughout the day. Along bullish candle on daily charts and higher bottom formation on intraday charts indicating further uptrend from the current levels," says Shrikant Chouhan of Kotak Securities.
For the trend following traders now, 60,300 would act as a strong support zone above which, the index could move up to 61,000-61,200.On the other side, below 60,300uptrend would be vulnerable. Below the same, the index could slip till 60,100-60,000.
