Sensex on 3-dec-2010

Sensex forms an indecisive doji, closing at 199667, after going above 20000 which forms a strong resistance for now.
Continues to remain in the neutral territory.
Sensex is at 20dSMA at the middle of the broad bolinger band.

for 23-nov-2010
Found support at channel above 89day EMA, got resisted at 50day EMA.
The Shortterm is negative with resistance at cloud bottom 20354.
Longterm is neutral with support at 19482, 19300 resistance at 20085, 20169
Longterm negative increases with TS crossing below KS, hooking down.
Future cloud thinning and converging.
Already shorterm EMAs are crossed over negative.

A cross above the Blue Channel top may give a momentum towards Red Channel top.
Breaking Blue Channel bottom may pull it down to RedChannel bottom.

The Bolinger Band bottom of 2standard deviation had supported sensex, and it started moving up from 1.5 standard deviation, to settle at 1 standard deviation.

Now the support at band bottoms would be at 19524 19323. 19121

and resistance at 20337 and if crossed, 20734 20935 21137 21339 21540.

The band shows inclination to go sideways.

Stoch is hooking up out of OverSold.

A lower swing low and shortening wick at HA candle. Will watch for equi wick appearance to see a trend arrest.

5day ema is below 20day ema, price below 5day ema, denoting continuing weakness.

while the weakness reduced today.

Technical Levels for Sensex:

FII and DII have made Net Positive Investments today [for the 2nd day],