Now you all know what all is happening in the US, European countries. It is going to represent in our stock market as our markets more dependent on FIIs rather than DIIs.
Even though root cause is in US, their market reduced from 14000 levels to 10000 levels (nearly 28%) where as ours so called fundamentally strong markets reduced from 21000 levels to below 12000 levels (nearly 43%).
Whatever! Now I am here to post the next support level for SENSEX. Even though I am not an expert in this technical analysis field, according to my charts SENSEX has major support at 10600 levels. You can see that in graph I rounded that portion.
And according to Fibonacci Retracement, 10500-10600 levels become almost 50% of Retracement from peak 21000 levels.
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