SENSEX takes strong support around 16210 and should sustain above the channel support line too. It may take a dash below 16200 briefly but should close above the support in weekly chart.
NIFTY too has honoured strong support at 4810. It is showing more weakness than the SENSEX as it has breached the channel support in daily chart. However the combined volumes of both the indices suggest that the bottom may be very near. Adventurism at this stage could however be dangerous and entry is advised only after an emphatic upmove.
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