This is the monthly chart of Sensex.
A trendline is seen right from 2008; and current trend (from dec 2020) is taking support from this trendline.
Also, current level is facing resistance from a crucial psychological barrier, which is the ATH (All time high) of sensex; 52537.89.
This barrier is also a resistance point according to the Fibonacci levels.
Sustainment (on closing basis) above 52537.89 can lead to a big bullish move in this index, touching approx 60,000 in a year or so.
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A trendline is seen right from 2008; and current trend (from dec 2020) is taking support from this trendline.
Also, current level is facing resistance from a crucial psychological barrier, which is the ATH (All time high) of sensex; 52537.89.
This barrier is also a resistance point according to the Fibonacci levels.
Sustainment (on closing basis) above 52537.89 can lead to a big bullish move in this index, touching approx 60,000 in a year or so.
FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS