Headroom for current bull run to extend to 35000/10500 ::ICICI Securities, link

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The breakout from the Ascending Triangle pattern comprising entire seven year consolidation since 2008 till early 2014 has major bullish implications as it
signals the end of elongated correction phase and start of a new uptrend. The minimum measuring implication of the price pattern i.e. the width of the triangle’s
base (21206 – 7697=13509) added to the breakout point of 21206 projects an upside potential up to 35000 /10500 (Sensex/Nifty) for the current rally over 2015
The entire up move since 2012 has occurred in a rising channel originating from 2009 lows as highlighted in the adjoining yearly chart. Over the past three
years, the index has respected the upper and lower bands of this long term channel. The past two year’s lows are resting upon the lower band of this channel
while 2014 high is also placed at the upper band of this channel. The upper band of this channel for 2015 is placed at 35000 levels, making this a likely target

LINK
http://content.icicidirect.com/mailimages/IDirect_TechnicalOutlook_2015.pdf