India’s Sensex broke through 25000, signaling an advance to 26000*. The primary trend is up and bearish divergence on 13-week Twiggs Money Flow insignificant. Reversal below 24000 is most unlikely. The trend is accelerating, with no end in sight, but investors should bear in mind that blow-offs are often followed by sharp falls.
* Target calculation: 21000 + ( 21000 – 16000 ) = 26000
I dont think this is any a big-blow-off.
Not yet. But never trust an accelerating trend, they are unstable.
I Hope Sensex is having short term support @24200 and Long term support @22000 after a sharp bull run it is expected to have short term correction may be in the month of July-Aug2014.
Yes. This is a strong trend. I would say medium-term support at 24000 and long-term at 22000 (support tends to form at the ‘000 mark).