BSE Sensex broke out of its trend channel last week, signaling the primary down-trend is weakening. A sharp rise in 13-week Twiggs Money Flow confirms buying pressure. Breakout above 18000 would indicate the start of a new up-trend, with an initial target of 20500*.
* Target calculation: 18000 + ( 18000 – 15500 ) = 20500
Singapore Straits Times Index held onto its gains, closing the week above 2900. Expect a primary advance with a target of 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200