India’s Sensex, on the other hand, is decidedly bullish. Completion of a 13-week Twiggs Money Flow trough above zero signals buying pressure. Breakout above 21500 would offer a target of 23000*. Respect of resistance is less likely, warning of further consolidation between 20000 and 21500. Failure of support is unlikely, but would signal a primary down-trend.
* Target calculation: 21500 + ( 21500 – 20000 ) = 23000