SENSEX (11406.65)
THE POSSIBLE TREND REVERSAL

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SO FINALLY MY TARGET OF 11600 IS REACHED AND NOW I'M EXPECTING THE POSSIBE REVERSAL. FOR FEW DAYS THE MARKET MOVED IN SIDEWAYS BETWEEN THE 11600 AND 11385. ANYTHING CLOSE BELOW 11330 I SEE THAT IT TRIES TO BREAK THE RISING WEDGE'S LOWER TRENDLINE. BUT SEEING THE RISING WEDGE FORMATION IT MIGHT TRY TO TAKE THE SUPPORT AT THE LOWER END LINE. COZ STILL IT GOT SOME TIME TO COMPLETE THE RISING WEDGE FORMATION. AND AS U SEE THE CHARTS, ABSORB THE RSI MARK THAT TOO RESISTED AT THE 70 MARK. JUST LOOK AT THE SENSEX CHART AND RSI BAR, U ABLE TOO SEE A LOOK-A-LIKE RESISTING PATTERN. SO LET US SEE WHETHER THE RISING WEDGE'S LOWER TREND LINE BREAKS OR NOT. IF DO SO THEN MY TARGET WILL BE AT 11045-10940, 10310 AND EVEN IT CAN KISS THE LEVEL OF 9875... JUST BEFORE MAKE SHORT ON INDEX WE NEED TO SEE THE LOWER TRENDLINE WHICH IS ALSO CONNECTED FROM THE LEVEL OF 8799 AND 10000 LOWS. IF THE INDEX BREAKS THE 11600 LEVEL THEN NEXT RESISTENCE COMES AT 11842 AND 12120.