We have extracted charts of BSE-SENSEX. The charts below indicate that we are at support based on SEMI-LOG trendline, 50DEMA and fibonacci 61.8 retracement. Investors must consider 16,200 as a support. Close below 16200-16000 will indicate weakness.
SENSEX / Nifty Valuations: In one of my recent posts I had contradicted with Citigroup’s opinion about Citigroup’s SENSEX targets and you saw the results. At current levels the valuations look attractive; Markets are trading around 16.2 times one-year forward earnings. A great opportunity for medium and long-term investors.