If the market moves up, it is likely to find some selling taking place in the future at a pressure point of 19,779. It may encounter some resistance on a strong pressure day around May 21, 2010.
The Sensex needs to come down and form a base close to the 15,500 zone for the uptrend to remain intact.
For the market to move up further, the oil and gas sector has to contribute significantly.
The top 10 Sensex stocks are not looking positive. They strengthen the belief that a correction is due.
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