Daryl Guppy, Founder and Director of Guppytrders.com, said,
The key factor with Sensex is that it is moving in a support and resistance band, having sideways consolidation. With regard to the Sensex, Guppy said it has a resistance at 16,000, support at 14,650 and a target of 18,650. Nifty, he said, has support at 4,370, and it is likely to trade sideways. “Strong uptrend is seen in Bharat Heavy Electricals Limited (BHEL) and Tata Motors,” Guppy said.His target for BHEL is Rs 2850 and Tata Motors is Rs 600.
The key factor with Sensex is that it is moving in a support and resistance band, having sideways consolidation. With regard to the Sensex, Guppy said it has a resistance at 16,000, support at 14,650 and a target of 18,650. Nifty, he said, has support at 4,370, and it is likely to trade sideways. “Strong uptrend is seen in Bharat Heavy Electricals Limited (BHEL) and Tata Motors,” Guppy said.His target for BHEL is Rs 2850 and Tata Motors is Rs 600.
According to him, the long term support for the S&P 500 is at 940 while the resistance for it is seen at 1,060, he added. Guppy sees support for the Shanghai Index in the 2,400-2,600 range.
S:MC
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