Thursday, October 20, 2011

Sensex- Technical Outlook and Trading Levels, 20 October 2011

Today, 16830 is the crucial intraday level for Sensex.
If Sensex sustains below 16830, then it could test 16650 and below that level it could test 16500.
Instead, if Sensex trades above 16830, then it could test 16950.

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.

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