Sensex for 27-6-2011

Sensex

bounced from the trend channel that we follow for a while now.
And is moving towards the pink upward longterm channel.
The EMA support was at 610days EMA.
The move will be towards 50ema and 200ema.

Ichimoku medium term
has turned negative with the kumo turnover.
The resistance would be mostly at 18295 18420 18520 18565 18730.
The bearish TS below KS is changing with both turning sideways,
but the bearishness remains, since all indicators and price are below the bearish cloud.
Shortterm parameters
are losing momentum, and is thinner.
One need to watch if this big candle move will sustain.

ATR is moving to more volatile.
Williams is about to enter the OB.
EMAs are yet to respond to the price move.
Sensex is below the converging longterm triangle.

Only when Sensex firmly closes above the 200ema and the cloud for a couple of days can one be sure of the change in trend.