Today, 16050 the crucial intraday level for Sensex.
If Sensex sustains below 16050, then it could test 15800 and below that level it could test 15600.
Instead, if Sensex trades above 16050, then it could test 16150.
Instead, if Sensex trades above 16050, then it could test 16150.
Short term Technical View of Sensex
The level 18500 is crucial for the short term. If it sustains above this level, then it could test 19800. Instead, if it fails to trade above this level, then it could decline towards 15500 levels.
Medium term outlook of Sensex dated on 16 September 2010
The medium term outlook of Sensex would remain bullish if it sustains above 18500. Sensex is likely to top out in the medium term around 21000 levels in coming months.
Long term outlook of Sensex dated on 16 September 2010
The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to top out around 21000 levels and it is likely to see a long term correction from that levels for atleast 3 years.
The bearish outlook is increasing, regardless of the headlines I feel that the bull rally is building up. The economic data of developed countries is actually showing promising signs, companies have more cash and this does not look like bleak picture to me. Risk reward ratio is skewing towards buyers. please visit http://www.kalpeshmaniar.com for accurate forecasting of markets
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