A view was sent in April 2009 (download report) at 10967 Sensex For: Refer WHAT LIES AHEAD.

A possible V shaped recovery. Heavy selling at 17200 area; Both happened.

It was certainly a V shaped type recovery. Last swing from 17735 to 17700 took 3 quarters and back to 17495 took 3 quarters.

After touching high of 17493 sensex faced a heavy sell off , CONTINUOUS 11 DAYS FALL, and made a low of 15330.

One flaw was noticed as Sensex gave a quarterly close a shade above 17000 as 17126 in Sept quarter.

Further now:

Sensex is most likely to face selling pressures at  16175-16411-16800. Seeing the force of selling one should observe this levels and try to exit longs. There always would be few out performers, but portfolio as a whole may not make money.

Weakest move will not move further then 16200. Again heaviest of selling can be expected at any of this levels.One should remain alert and take action accordingly.

Unless again a quarterly close above 17000 comes one cannot think of sensex making new high.