SENSEX retraces exactly from 15580 as we mentioned in our previous post "15000............". It is also stalling and likely to go for consolidation/congestion before making an attempt at breaking out to higher levels. The consolidation usually comes with a doze of high volatility for the bulls to prove their mantle and move past the resistance. All fresh moves for A group now only after the breakout but the mid and small caps should move where the valuations are still attractive. It is still not a market which could be shorted because though the momentum weakens, even slightest discount will get bought. It would need a convincing breakout with huge turnover for the SENSEX to confirm further upmove. Logic would suggest it should wait for the next big trigger "the budget" for the breakout but one never knows because the sheer momentum could do it much before that if a good trigger is around.
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