S&P BSE SENSEX has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development.
The index has given a positive signal from the rectangle formation by a break up through the resistance at 60434.
Further rise to 70218 or more is signaled. The index is testing resistance at point 60600. This could give a negative reaction, but an upward breakthrough of points 60600 means a positive signal. The index is overall assessed as technically slightly positive for the medium.
Please understand that these are long-term predictions and the market will go 2 steps up and come down 1 step and this will keep on happening.
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