Nov 19, 2010

Sensex
The support line of 19884 could not keep sensex falling.
Neither did the longterm cloud top held sensex.
Now the support comes at
Channel bottom at 19494
89day EMA at 19358
Longterm cloud bottom at 19300
breaking which the bearishness would stand confirmed.
The medium term has turned negative on the breaking of 50day ema,
Entering the longterm cloud confirms losing the postiveness to neutral.
The Longterm TS & KS turned down, but above the cloud.
CS fallen below the PA.

Shortterm Cloud is already bearish, with PA , TS and CS below the cloud, and CS below the price.
Cloud is in negative, and is thin with quick turnovers.
KS on the verge of entering the cloud.

One channel is broken, and the next trendchannel is pending.
There can be a technical bounce since it is a continuous sellout eversince Diwali.

FII keep selling almost each day, after continuous good buys from June.

No comments: