Sensex Next Week – 28 Nov 2010

Sensex is in downtrend from the last so many days. After reaching its all time high few days back, it is giving blood red on dalal street. Housing loan scam has also hit the market badly and some bad news relating to same is expected next week.

But we're here to analyze technical chart of Sensex using Ichimoku indicator.

On Friday, Sensex closes below Kumo level giving kumo breakout on downside. That means it will give BIG correction next week. The support will come around 18,300 when Chikou Span (CS) will find support around kumo. That will be right time to invest for long-term.