Technical view by Nooresh

Sensex Lifeline ……..Still holding on …

Sensex Long term View :

As we had been discussing the Sensex Lifeline for a long time now ... We had these very analysis for our view at 8800 and 12300 and previous bottoms ...

check link and other on the right .. .

Current View :

Well on a monthly basis Sensex has taken a huge and quick crack from the highs and should take some time to stabilize . The current low has been close to the near term trendline from 12300 and 13900 bottoms as shown in previous charts . On the longer term basis the LIFELINE which has been respected for last five years is still not broken. Only on a 2-4 weeks close below the Lifeline would open up bearish alternatives or a long consolidation ....

Strategy for long term investors should be to wait and watch for stabilization and as always be disciplined and dont be in a hurry as an investment decision is not purely price but conviction on the business... Accumulate growth stocks with a mix of defensive ones also .... The long term growth story of India remains strong and technically i would be worried only below the lifeline ... So do ur homework and be ready with the resources to be utilized but dont hurry ...

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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