Today, 26900 is the crucial intraday level for Sensex.
If Sensex sustains below 26900, then it could test 26800 and below that level it could test 26700.
Instead, if Sensex trades above 26900, then it could test 27000.
Short term Technical View of Sensex
The level 26600 is crucial for the short term. If it sustains above this level, then it could test 27000. Instead, if it fails to trade above this level, then it could decline towards 26000 levels.
Medium term outlook of Sensex dated on 22 August 2014
The medium term outlook of Sensex would remain bullish if it sustains above 26600 and it is likely to test 28000 levels. If it fails to sustain above 26600, then it is likely to decline towards 22000. Sensex is likely to top out in the medium term around 26600 levels and it could see a correction.
Long term outlook of Sensex dated on 22 August 2014
The long term outlook of Sensex is looking bearish and it seems that Sensex is likely to top out around 26600 levels and it is likely to see a long term correction from that levels for atleast 3 years.
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