The BSE Sensex is testing resistance at 17000. Breakout would signal a bear market rally to test the descending trendline. Rising 13-week Twiggs Money Flow indicates medium-term buying support.
* Target calculation: 16 – ( 17.5 – 16 ) = 14.5
The Singapore Straits Times Index also reflects a bear market rally. Respect of resistance at 2900 would warn of another down-swing — as would a 63-day Twiggs Momentum peak below the zero line.
* Target calculation: 2500 – ( 2900 – 2500 ) = 2100