India’s Sensex index retraced to test support at 18000 on the daily chart. Bearish divergence on 21-day Twiggs Money Flow indicates medium-term selling pressure; respect of the zero line would suggest a strong primary up-trend. Respect of 17,000 on the index chart would also be a bullish sign.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
Singapore’s Straits Times Index (weekly chart) also shows retracement. Expect a test of support at 2900. Respect of the zero line by 63-day Twiggs Momentum would confirm a strong up-trend, with an initial target of 3200*.
* Target calculation: 2900 + ( 2900 – 2600 ) = 3200
Nice Analysis…
Krunal.
really?????
So, Support for Sensex is now 17000…
It is a fantastic & realistic analysis.
Sanjay Jain
Chartered Accountants,