India’s Sensex displays strong resistance at its 2007 and 2010 high of 21000, with several failed attempts at a breakout. Reversal below 20600 would warn of another test of primary support at 20000. The bullish ascending triangle, however, suggests an advance to 22000*. Declining 13-week Twiggs Money Flow indicates medium-term selling pressure typical of a consolidation.
* Target calculation: 21000 + ( 21000 – 20000 ) = 22000