India’s Nifty Index broke through resistance at 5400, following breakout from its downward trend channel, to signal the start of a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
The Sensex Index broke through 18000 to confirm the Nifty signal, following an earlier bullish divergence on 13-week Twiggs Money Flow. Target for the advance is 21000*.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
Singapore Straits Times Index cleared resistance at 2900, signaling a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
The target calculations for the STI index is OK. I don’t see the basis for the target calculations for the BSES index and the NSX index.
Ali, CFTe
The height of the last trough is projected upwards from the breakout point. Always adjust for round numbers (e.g. Sensex 15,000) nearby.
Great breakout here!
India and Singapore will do a great run in the next days or weeks.
i find charts of Hong Kong, Singapore,and India much more relevant to our Australian market