Today, 20550 is the crucial intraday level for Sensex.
If Sensex sustains below 20550, then it could test 20400 and below that level it could test 20200.
Instead, if Sensex trades above 20550, then it could test 20650.
Short term Technical View of Sensex
The level 19200 is crucial for the short term. If it sustains above this level, then it could test 19500. Instead, if it fails to trade above this level, then it could decline towards 16500 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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