Longterm view:
For me the Chart is clear bullish. The Level for further Longs is 30.000
AT present, the RSI turns red, u should exspect a healthy drop soon after kissing the Pivot resistance Level at 30.000. Kissing the neckline would be typical.
Observations are mentioned on the chart.
With this analysis i am not trying to predict top or bottom or future direction of the market. With this analysis i am trying to share the idea of different ways of doing analysis, i hope it will openup new ways by which you can do analysis of your own.
High probability of Sensex (Bombay Stock Exchange) to cross 30000. The Move to be confirmed with a bullish close this month. The arrows indicate potential moves based on previous price action when the Uptrend resumed after breaking the Retracement (2011-2012)
