Daily - Mildly Bullish, since the TS is above KS. PriceAction, TS and KS are above Kumo. CS above PA. Kumo future remains positive.
But PriceAction is below TS and KS.
Hourly - Neutral. All actions in the Cloud. Kumo future turns positive.
M30 - About to become MildBullish to Neutral, if Price enters cloud. The PriceAction falling towards Cloud, TS crossed below KS, CS fallen below KS.
M5 - Bearish. PriceAction below TS below KS below Cloud. CS below PriceAction. Cloud future turning bearish.
In shortterm the trend is Bearish, while the Midterm remains capable of recovering to Bullish moves.
Trend remains sideways.
Sensex may bounce up from 20165, the M30 SenkouspanA.
The Bolinger support would be at 19840, and resistance at 20661
Sensex is below the 20sma, in the middle of the band.
The retracement support may be possible at 20208 20134 20060 19954.
and resistance at 20455 20620 20837.
If breaks down, a firm support may be at 34sma 19984, 50sma 19430.
NIFTY FUTURE :
The Volume is less than average of 5days, 20days and 50days
NMA levels are neutral between short and long parameters. [Thanks Rajandran]
Volume analysis shows a possibility for fresh lookup to accumulate at lower level. [Thanks Karthikmarar]
