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Sensex, Nifty favourably placed; these levels may shape market this week
Stock market weekly outlook: Technical charts indicate that the bias for the Sensex and Nifty is likely to remain positive as long as the indices sustain above 80,250 and 24,380, respectively.
Rex Cano Mumbai
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Even as the BSE Sensex ended roughly 600 points lower last week, the recovery from mid-week lows and a strong finish on Friday has led to an advantageous position to the bulls versus the bears. The Sensex hit an intra-week low at 80,490 levels, and eventually ended the week at 80,721. Similarly, the NSE Nifty 50 index bounced back after testing support around its 20-Day Moving Average (20-DMA). Going ahead, the near-term bias for Sensex is likely to remain positive as long as the BSE benchmark index sustains above 80,250 levels, and the Nifty above its 20-DMA, which
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