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| Sensex Daily with Support and Resistance |
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| Dow Jones Industrials Weekly - Fibonacci Retracement Levels |
First chart is Sensex EOD. The levels show my preferences for long term support and resistance levels. Sensex has been under a bit of grey weather lately - I do expect the slide to extend - however I expect it to be volatile for the equities over the coming few months. The green region at the bottom is my preference for a strong long term support area (15666 to 15080) - which should be held by Sensex - in case of a strong bounce - 18860 area is my preferred place to attempt a short.
The second chart is Dow Jones Industrials weeklies - I have been reading some stuff from a major investment bank's technical analysis team about the possibility of 76.4 retracement acting as a temporary top - so here it is - we hit it last week - and some strong selling has come in after that.
