Can Sensex fall below 80,000-mark in July? Here's what chart says

Technical chart suggests that the key monthly support for the BSE Sensex stands at 81,300 levels; break and sustained trade below the same can trigger a sharper fall.

Equity benchmark indices ended near the lows of the week last week owing to selling pressure in IT stocks, after TCS Q1 earnings fell short of market expectations.  The BSE Sensex had hit a high of 82,781 during the course of the week (July 4 - July 8); from there on the index tumbled to a low of 82,442 - an intra-week fall of 1,370 points. The Sensex eventually ended the week with a loss of 574 points or 0.7 per cent at 82,442.  In the process, the BSE benchmark index has now shed nearly 2