SENSEX bounced exactly from the rising trend line support and closed in green giving a good bullish signal it should now make higher lows for at least a couple of days to confirm that it would cruise along the support or knock at the upper resistance. However should the weakness persist and if the support is broken (very unlikely) some heavy selling pressure could take the index to around 16200 or even sub 16k level.
SENSEX UPDATE 20-12-09
Even after the sell off on Friday the SENSEX still has not breached the trend line support in the weekly chart and as long as it trades above the trend line the possibility of deeper correction are negated.
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