Sensex Analysed : A Clear Technical Perspective

S&P BSE SENSEX has broken the falling trend channel down in the medium long term. This signals an even stronger falling rate, but the negative development may result in corrections up in the short term. It also gave a negative signal from the rectangle formation at the break down through the support at 58812. 

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Further fall to 56921 or lower is signaled. The index has support at points 56400 and resistance at points 60600. The RSI curve shows a falling trend, which supports the negative trend. The index is overall assessed as technically negative for the medium long term.