Category: India & Singapore

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India & Singapore

The BSE Sensex found medium-term support at 16000/15800 but reversal of 13-week Twiggs Money Flow below zero warns of further selling pressure. Expect another test of primary support at 15000/15200. Failure would offer a target of 12000*.

BSE Sensex Index

* Target calculation: 15 – ( 18 − 15 ) = 12

With almost half of foreign bank funding sourced from Europe, India is experiencing significant tightening of external finance and hence domestic investment.

Singapore’s Straits Times Index is testing medium-term support at 2750. Failure would test primary support at 2600. Reversal of 63-day Twiggs Momentum below zero warns of a strong primary down-trend. Recovery above 2900 is unlikely but would indicate continuation of the primary up-trend.

Straits Times Index

* Target calculation: 2600 – ( 2900 − 2600 ) = 2300

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India & Singapore

India’s Sensex found short-term support at 16000, but 21-day Twiggs Money Flow below zero indicates continued selling pressure. Breach of 16000 would test the band of primary support at 15000.

BSE Sensex Index

The Nifty similarly found short-term support at 4800, but 63-day Twiggs Momentum below zero warns of a continuing primary down-trend. Failure of the 4800 level would test primary support at 4500.

NSE Nifty Index

Dow Jones Singapore Index found short-term support at 222 — the 61.8% Fibonacci level. Expect a rally to test 230 but respect would warn of a decline to test primary support at 203. 63-Day Twiggs Momentum crossed below zero, warning of a primary down-trend.

Dow Jones Singapore Index

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India & Singapore

India’s Sensex broke the 61.8% Fibonacci level at 16500, indicating a test of primary support at 15000. Reversal of 13-week Twiggs Money Flow below zero warns of strong selling pressure. Failure of support at 15000 would offer a target of 12000*.

BSE Sensex Index

* Target calculation: 15 – ( 18 – 15 ) = 12

The Nifty is similarly headed for a test of primary support at 4500. Failure would confirm the primary down-trend indicated by 63-day Twiggs Momentum reversal below zero.

NSE Nifty Index

Singapore’s Straits Times Index broke medium-term support at 2900. The primary trend is still up but expect a test of support at the rising trendline (2800). Failure of support and reversal of 63-day Twiggs Momentum below zero would both warn of a primary down-trend.

Singapore Straits Times Index

Dow Jones Singapore Index is similarly testing medium-term support at 230. Failure would indicate a test of the primary level at 210. Declining 13-week Twiggs Money Flow warns of medium-term selling pressure; reversal below zero would have long-term implications.

Dow Jones Singapore Index

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India & Singapore

India’s Sensex is testing support at 16500 (61.8% Fibonacci retracement). Recovery above 17500 would signal the start of a fresh primary advance. Reversal of 13-week Twiggs Money Flow below zero, however, warns of strong selling pressure. Failure of support at 16500 would test the band of primary support above 15000.

BSE Sensex Index

The Nifty is similarly testing support at 5000. Reversal of 63-day Twiggs Momentum below zero warns that the primary down-trend will continue, but recovery above the descending trendline at 5200 would indicate that the correction is over.

NSE Nifty Index

Singapore’s Straits Times Index fell sharply to test medium-term support at 2900. Failure would indicate a correction to the rising trendline. Respect of support, especially if strengthened by a 63-day Twiggs Momentum trough above zero, would signal the start of a fresh primary advance.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2900 – 2600 ) = 3200

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India & Singapore find support

India’s Sensex index found support at 17000. Recovery above 17500 would indicate respect of the support level and another attempt at 18500.  63-Day Twiggs Momentum oscillating above zero already indicates a primary up-trend but only recovery above the November high of 18000 would confirm. Target for an advance would be 20000*.

BSE Sensex Index

* Target calculation: 18.5 + ( 18.5 – 17.0 ) = 20.0

The Nifty index is similarly testing support at 5200, while recovery above 5400 would confirm the primary up-trend. Target for an advance would be 6000*.

NSE Nifty Index

* Target calculation: 5600 + (5600 – 5200) = 6000

Singapore’s Straits Times Index continues in a narrow consolidation above the double-bottom neckline at 2900, suggesting continuation of the primary up-trend. Target for the expected breakout would be 3200*.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2900 – 2600 ) = 3200

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India & Singapore

Dow Jones Total Stock Market Index for India closed below support at 1800, warning of another correction, but 63-day Twiggs Momentum holding above zero continues to indicate a primary up-trend. Breakout above 1900 would signal an advance to 2100*.

Dow Jones Total Stock Market Index - India

* Target calculation: 1800 + ( 1800 – 1500 ) = 2100

BSE Sensex Index is testing support at 17000. Downward breakout would indicate another test of primary support at 15000. 13-Week Twiggs Money Flow respect of the zero line, however, would signal strong buying pressure. And recovery above the medium-term (orange) descending trendline would indicate a fresh primary advance, breakout above 18000 confirming the primary up-trend.

BSE Sensex Index

* Target calculation: 18 + ( 18 – 15 ) = 21

Singapore Straits Times Index continues to test resistance at 3000. 63-Day Twiggs Momentum holding above zero confirms the primary up-trend. Follow-through above 3050 would signal an advance to 3300*.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2600 – 2500 ) = 3300

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India & Singapore

India’s Sensex Index continues to test support at 17000. A trough above the zero line on 13-week Twiggs Money Flow would indicate strong buying pressure. Recovery above 18000 would confirm a primary advance to 21000*.

BSE Sensex Index

* Target calculation: 18000 + ( 18000 – 15000 ) = 21000

The Nifty Index displays a similar pattern. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Recovery above 5400 would signal an advance to 6200*.

NSE Nifty Index

* Target calculation: 5400 + ( 5400 – 4600 ) = 6200

Singapore Straits Times Index is already in a primary up-trend. Breakout above medium-term resistance at 3040 would confirm an advance to 3300*.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2900 – 2500 ) = 3300

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India & Singapore

India’s Sensex found support at 17000. Failure would signal another test of primary support at 15000, but 13-week Twiggs Money Flow remains above zero and respect of support is more likely. Recovery above 18000 would confirm tthe primary up-trend, with a target of 21000*.

BSE Sensex Index

* Target calculation: 18 + ( 18 – 15 ) = 21

The NSE Nifty Index is similarly testing medium-term support at 5200. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Respect of support at 5200, by say recovery above 5500, would confirm the signal. Failure of support is less likely, but would signal another test of 4500.

NSE Nifty Index

* Target calculation: 5400 + ( 5400 – 4500 ) = 6300

Singapore’s Straits Times Index twice penetrated resistance at 3000, confirming the primary up-trend, but each time retreated. Expect softness until quarter-end followed by another breakout attempt. Target for the advance is 3300*.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2900 – 2500 ) = 3300

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Selling pressure warns of correction

Medium-term selling pressure, signaled by bearish divergence on 21-day Twiggs Money Flow, continues to warn of a correction in US and Asia-Pacific markets. The Dow Jones TSM (formerly “Wilshire”) Asia-Pacific Index displays a bearish divergence since mid-February. Reversal below 1280 would confirm a correction.

Dow Jones TSM Asia-Pacific Index

Dow Jones Industrial Average shows a similar bearish divergence, though the latest down-turn was exaggerated by triple-witching hour [TW] on Friday. Reversal below 12750 would confirm a correction.

Dow Jones Industrial Average

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India & Singapore

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*.

BSE Sensex Index

* Target calculation: 18 + ( 18 – 15 ) = 21

The NSE Nifty shows a similar pattern. Follow-through above 5600 would offer a target of 6200*.

NSE Nifty Index

* 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*.

Singapore Straits Times Index

* Target calculation: 2900 + ( 2900 – 2500 ) = 3300

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