Market Outlook: 05 June 2009
Today the Sensex faced a strong resistance at 14850-14860 levels. The market did take its time to consolidate and move forward and finally ended the day up by 137.78 points. Now the best part here is that the Sensex has closed above 15000 for the first time since the recovery started in March 2009. And this is a very good sign as it gives more comfort level for investors and also indicates that the Sensex could inch forward from these levels as well. Our sense says that the market will remain firm and move up steadily till the budget as there are lot of expectation from the UPA. Though their might some kind of profit booking as well, things are still looking bright for the Sensex. In fact most of the Asian markets are down, while Europeans arent much exciting either but still the Sensex finds a way of its own and closes on a positive note.
We expect a gap up opening for the Sensex tomorrow be Cautious on higher levels
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