India: BSE 30 Sensex Index

[setravis]

India: BSE 30 Sensex Index...
The Sensex remains in a primary down-trend. Having encountered resistance at 18500 the index is retracing to test support at 17500. Failure would signal a decline to 16500*. Twiggs Money Flow (13-week) below zero indicates strong selling pressure.


* Target calculation: 17500 - ( 18500 - 17500 ) = 16500

[setravis]

India: BSE 30 Sensex Index...

The Sensex remains in a primary down-trend, testing support at 17500. Failure would signal a decline to 16500*. Declining Twiggs Money Flow (13-week) below zero indicates strong selling pressure.

* Target calculation: 17500 - ( 18500 - 17500 ) = 16500

[setravis]

India: BSE 30 Sensex Index...
The Sensex remains in a primary down-trend, but rallied to test resistance at 18500 before retreating on Monday. Upward breakout would complete a double bottom, with a target of 19500, but would not alter the primary trend. Reversal below 17500 would signal a decline to 16500*. Rising Twiggs Money Flow (21-day) suggests medium-term buying pressure.

* Target calculation: 17500 - ( 18500 - 17500 ) = 16500

[setravis]

India...
The Sensex breached its upper trend channel, indicating that the primary down-trend is losing momentum. Rising 21-day Twiggs Money Flow suggests medium-term buying pressure. Respect of resistance at 19000, however, would warn of another test of primary support at 17500.


* Target calculation: 17500 - ( 18500 - 17500 ) = 16500