Market Turns Mostly Positive
78,000 would act as a key support zone, above which the market could move up to 79,000-79,200; On other hand, if it falls below 78,000, the uptrend would be vulnerable
Market Turns Mostly Positive
Mumbai: On Wednesday, the benchmark indices bounced back sharply, the Sensex was up by 368 points. Among the sectors, Capital Market and Auto indices gained over 1 per cent, whereas the Realty index lost the most, shedding over 1 per cent.Technically, after a short-term correc-tion, the index has formed a reversal formation, which is largely positive.
Shrikant Chouhan, head (equity research), Kotak Securities, said: “For traders, 78,000 would act as a key support zone. Above this level, the market could move up to 79,000-79,200. On the other hand, if it falls below 78,000, the uptrend would be vulnerable. Below this point, traders may prefer to exit their long position.”
