Market Review for 23rd July 2009

BSE Sensex: (14843) we said ‘technically the trend is still intact up but I would be cautious as the internals of the market is conveying a picture of profit taking…a down day at this juncture could spoil the party…caution is the other of the day” the market continued its journey up and caved in perhaps due to profit taking as anticipated and closed in the negative’

Now the picture is more confusing and I would be extremely cautious and I would not be surprised if the market trades either way though technically it should be down…

The support for the Sensex is 14548-14295 and the resistance to the up move is at 15130

Nifty: (4399) the support for the Nifty is at 4314-4238 and the resistance to the up move is at 4436-4615-4700-4789

Labels: Market Review

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