Today, 17620 is the crucial intraday level for Sensex.If Sensex sustains below 17620, then it could test 17510, and below that level it could test 17350.
Short term Technical View of Sensex
Sensex is likely to form a lower top around 17350 region and a correction towards 16000 is likely. Instead, if 17350 is broken, then it could move towards 18000.
Medium term outlook of Sensex dated on 14 December 2009
The medium term outlook of Sensex would remain bearish if it fails to sustain above 18000. Sensex is likely to bottom out in the medium term at 7000 levels in coming months.
Long term outlook of Sensex dated on 14 December 2009
The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to bottom out in 3 years.
