Sensex reveals short-term support

Staggered red candles, rather than free-falling with little or no overlap, indicate the presence of short-term buying support on the Sensex Index. Higher volumes tend to support this. Respect of support at 16500 would indicate another test of resistance at 17500. Failure of support, however, would test 16000*.

India SENSEX Index

* Target calculation: 17500 – ( 19000 – 17500 ) = 16000