Sensex:
In the early morning trades bullishness was expected sensex made a high of 20190 our level of importance was 20217 it was very much near and as we said in the morning from this are we expect a correction and after making a high of 20190 sensex drifted down to end in negative.
A close below 19932 today will start some more down side correction.
More or less it was quite low volume affair and that happens when the adx on daily chart enters below 20-22 levels, such low level of adx clearly indicates loss of momentum on either side.
Nifty :
nifty has been facing very very strong resistance at 6028 in initial bullishness yesterday it went above it but could not sustain for long and again closed below 6028.
It has been last five sessions since nifty has closed near 6000 but failed to close above 6028 it has been clearly being advised from here that for the double bottom pattern to succeed nifty need to close above 6028-6088 but its failure to do so will attract slow but gradual selling pressure.
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