The Sensex respected support at 17000. Recovery above 18000 would indicate a primary up-trend and follow-through above 18500 would confirm. Respect of zero by the latest trough on 13-week Twiggs Money Flow would further strengthen the signal. Target for the advance is 21000*.
* Target calculation: 18 + ( 18 – 15 ) = 21
The NSE Nifty shows a similar pattern. Follow-through above 5600 would offer a target of 6200*.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
Singapore Straits Times Index is already in a primary up-trend, as signaled by 63-day Twiggs Momentum holding above zero. Recovery above 3000 confirms an advance to 3300*.
* Target calculation: 2900 + ( 2900 – 2500 ) = 3300
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.