1. All the investors of stock market should note that short-term outlook as per technical indicators to include lack of momentum in the daily oscillators and trend-line penetration indicates towards further fall in the market. The break of Sensex 16500 is a main concern and one has to keep a close eye on Sensex level 15799 whose break will lead to further fall in the market which may stop at 14628 if the supports at 15,879 and 15,399 are broken and if the level of 15,399 is broken than market may fall till 14,700 levels.
2. Important levels which can act as resistances for upmove are 16725 and 17001. We can say only that the trend has turned positive if index closes above 17001 level.
3. In the coming week choppiness in the market will be visible and it will be difficult making money from the stock market and thus one can pack the bags and take a short break from the stock market as day trading is one of the most difficult tasks among all the business.
Hats off to all the day traders and I call on their better halfs to support them and enjoy the break.
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Indian stock market Index Researched Outlook
