Week Ahead: Resistance above 3830

MACRO TECHNICALS

Weak momentum indicators, negative breadth and intermediate uptrend lasting for five months are sell signals.

The market surged to a new set of record highs after a dip mid-week. The Sensex closed at 13282.91 points for a gain of 1.16 per cent. The Nifty rose by 0.77 per cent closing at 3834.75 points. The Defty rose by 1.12 per cent as the rupee continued to gain versus the dollar.

Volumes rose perceptibly, even through the mini-correction