Thursday, October 27, 2011

What is my view on sensex?

My view on sensex is as similar as other technical analysts.. hear i would like to explain why market is not a right pick for this Diwali.
  • RSI. as RSI have indicated a overbought signal.
  • Even %R is not showing a healthy sign.
  • Parabolic SAR. have not yet shown any reversal sign.
  • 17440 look me as a good resistance, if it break than. we may directly don't see a bullish run but can say as a ray of hope.. because from last few month market have struck itself in a rectangle. if market move as predicted it may be +ve sign.
  • Conclusion: Market need some correction and will go into correction as many analyst. right know i am working on "How Much?"