SENSEX
NIFTY
For a change we have analysed both the sensex and nifty charts for better clarity. Pl click on the charts to view full details. But broadly it seems the markets are not likely to sustain the steep momentum we have seen thus far and a flatter momentum is likely in medium term. For short term though in the weekly chart the nifty has still not broken the momentum support but the sensex has moved below the support indicating weakness but no major cracks are foreseen and the next support zone for sensex is around 16600 and then 16350. The coming week will clearly indicate the medium term trajectory of both the indices.
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