Market Outlook on 3rd December, 2012

SENSEX has closed at 19339 levels. It has gained 4.50% this week which is one the few big gaining week 2-3 months’ time. Notably, it has closed at the highest level since April 2011 levels.

SENSEX has good support at 18990 levels while resistance is developed at 19430 & 19600 levels.

We expect downside to remain limited over the coming week. Plus, Target of 19470 & 19600 levels are likely in coming days. Holding on long positions with some caution will help over longer time period.

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