Sensex zooms over 3,000 points in two days. Is it time to book profit?

The index had witnessed 10 per cent correction from June, 2019 and an upside of over 5 per cent in the past two sessions has strengthened the positive view on the technical charts

S&P BSE SENSEX: The index has gained over 3,000 points in the past two sessions. The rally comes on the back of a sharp cut in corporation tax announced by the government during market hours on Friday. On the techncial charts, the trend line breakout with huge volumes suggests a strong upward momentum for the index. The index had witnessed 10 per cent correction from June, 2019 and an upside of over 5 per cent in the past two sessions has strengthened the positive view. The level of 39,750 stays as an immediate resistance with support coming at 38,100 and 37,800.