Sensex forms small Doji
55,600 would be the key level to watch out below which it could slip to 55,300-55,100; on the flip side, fresh uptrend rally could be possible only after 55 900 breakout
image for illustrative purpose
Mumbai: On Monday, the benchmark indices witnessed profit booking at higher levels, BSE Sensex was down by 306 points. Among Sectors, Metal index outperformed, rallied over 1.5 per cent. Whereas Auto, Oil and Gas stocks witnessed profit booking at higher levels.
Technically, after a promising uptrend rally the index witnessing profit booking at higher levels. On daily charts, it has formed small Doji candle, which indicating indecisiveness between the bulls and bears. For the traders now, 55,600 would be the key level to watch out. Below which, the index could slip to 55,300-55,100. On the flip side, fresh uptrend rally could be possible only after 55 900 breakout. Above the same, the index could rally till 56200-56 350.
