Thursday, June 24, 2010

Sensex- Technical Outlook and Trading Levels, 24 June 2010

Today, 17780 is the crucial intraday level for Sensex.
If Sensex sustains below 17780,  then it could test 17720 and below that level it could test 17650.
Instead, if Sensex trades above 17780, then it could test 17850, and above that level it could test 17900



Short term Technical View of Sensex

The level 17300 is crucial for the short term. If it sustains above this level, then it could test 18000. Instead, if it fails to trade above this level, then it could decline towards 16500 levels.



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.

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