24th April

The week opened at 3331.71 and after coming down a bit till 3320.62, the BSE - Sensex began rising. In the first four trading sessions, it kept on forming higher tops with higher bottom in the Daily Bar Chart. But in the fifth trading session this trend was broken and Sensex formed low top with lower bottom. The week concluded at 3406.59 with weekly top at 3516.31 and weekly bottom at 3320.62. But for the opening half an hour, the trading for the full week was beyond the opening level of the Sensex indeed a very healthy sign instead of political uncertainty!

The weekly charts of BSE- Sensex indicate that the first level of support on the lower side is 3320. If Sensex breaches this level than the next support level comes at 3295. And on the higher side the level of resistance is 3441. If Bulls succeed in taking the Sensex beyond this level than it becomes quite strong.maintaining the Sensex beyond 3441 shall make it approach 3515 which is the next level of resistance. So, the crucial level in the charts is 3441. the higher Sensex goes the stronger it becomes and vice - versa.