Sensex(17600.12) Outlook for the week:
- Sensex closing above its 20 week EMA around 17136 levels. Defintely Positive for the short term.
- 38.2% retracement level now at 17087 on lower side likely to act as an important support in case of any sell-off which can't be ruled out during the week.
- AS PER PIVOTS: Support 1 lies at 17178 and Support 2 lies at 16757 levels. Resistance 1 lies at 17821 and Resistance 2 lies at 18042 levels on higher lies.
- Ealry sell - off signal observed on Bandwidth Bollinger indicator showing negative divergence.
All in all best option will be to book profits in cash stocks on rise during the week.
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