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Sensex has support at 9245-9140: Angel

Posted on: March 25th, 2009 and is filed under Brokerage Recommendations.

According to Angel Broking’s Technical Analysis report, the coming trading session is likely to witness some correction on the downside and indices are likely to take support at 9245 – 9140 / 2880 – 2840 levels.

Angel Broking’s Technical Analysis report:

The day began on a strong note but ended in despair as profit booking / selling was witnessed at higher levels and indices gave up all the intraday gains to close in red. Looking at the current price action on the daily charts, the coming trading session is likely to witness some correction on the downside and indices are likely to take support at 9245 – 9140 / 2880 – 2840 levels. On the upside, 9699 / 3017 levels may act as resistance for the day. Short-term traders should use declines to trade from long side.

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