On a net Friday to Friday basis, the Sensex and Nifty hardly moved. Even though the intraday/intraweek movement saw the Sensex spend quite some time below the short term supports. Going forward, the chances of moving up higher are greater than those of a further price/time correction.
However, the rally could be stock specific rather than broad based, as a lot of news flow is going to chase select stocks.
Conservative traders should keep a trailing stop-loss at 27940 and aggressive traders at 27724.
Sensex Previous Close
Sensex Fair Value
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