Repeated tests of a support line makes that level important in the big picture. So far, the Indian benchmark Sensex has managed to hold above the support line shown in the chart. However, if we get a break of that, then technical selling will take the index down to just below 13,900. So watch out for the break, and take action when it happens.
2 Comments
The resistance line and support line show that the Sensex might be entering a narrow path. So there should soon emerge a breakout one way or other.
Dear Ramki Sir,
What is the update now on the index? It seems to be running away. Perhaps your extended target of 17K odd on the cards?