1st May

There were just three trading sessions in this week which gave spread of 139 points to the Sensex. It opened with a gap of 110 points, gained around 25 points to touch 3322.89, then fell tell 3239. The first trading session ended at 3245.27, showing weakness for the next day. In the second trading session, Sensex fell by more than 100 points to touch 3183.47 but closed at 3272.71 showing Bar Reversal/ change of Trend. Last treding day confirmed the positive trend by adding around 80 points and the week concluded at 3325.43.

In the weekly charts of BSE- Sensex, the pattern formed by lines projects that it has to go further in the north direction. On the higher side after Crossing 3352, it faces resistance at 340. Beyond this the weekly levels of resistance are 3449 and 3516. In the lower sides first support level comes at 3269. It is a crucial level as breaking of this level would indicate Bears gaining power in the Markets Below this, weekly support comes at 3235 and 3183. As the weekly Trend - Line rests at 3269, the BULL will have to maintain the Sensex beyond this level for taking the Sensex in the higher comes.