India: Sensex tall shadow

A tall shadow suggests the Sensex is also likely to retrace, to test its new support level at 30000. Respect would confirm the primary advance. Declining Twiggs Money Flow indicates medium-term selling pressure but the long-term signal remains bullish. Target for the advance is 32000*.

BSE Sensex

* Target: 29000 + ( 29000 – 26000 ) = 32000