sensex weekly forecast report
sensex daily chart analysis
sensex on last trading session closed at 18309 with losses.on daily chart sensex now entered into bearish trend as closed below 3 month moving average.on chart sensex 3 month average is 18320 and above that 18520 is weekly and 18630 is monthly averages.all these levels now act as strong resistances.
on daily chart,sensex daily rsi is 38 and with bearish divergence.sensex daily cci is –162 and with bearish divergence but oversold state.macd also with bearish crossover and turned negative suggesting fall may continue in upcoming time.
on daily chart sensex is now in downtrend and wit bearish momentum so stay short with stoploss and expect lower levels for next 1-2 weeks.
sensex weekly chart analysis
sensex this week closed with losses.last 7-8 weeks consolidation sensex given downside breakout and heading towards medium term supports.on downside sensex 6 month average is 17980 then 17685 is 12 month average and in last 17465 is 2 years average level.these level are support for sensex now with medium term perspective.
on weekly chart sensex rsi is with bearish divergence and at 55.while sensex weekly cci holding sell signal given at 19100 and with bearish divergence.sensex weekly macd also near bearish crossover but still above zero mark.
sensex monthly chart analysis
sensex now turned in red for month of nov 2012.on monthly chart sensex rsi and cci both seems to be near sell signal if fall continues then definitely get confirmed.which is bad for investors!!in my personal view investors must book profit in hand and wait to correction is over.
sensex weekly outlook 19 to 23 nov 2012
from short term point of view sell is now confirmed with downside breakout.now traders must go short for targets of 17800 to 17300 with stoploss above 18450!!
from medium to long term view,investors and traders must book profit in hand and sit to sideline for new bottom or buy far months out of the money put options for lower risk and higher returns!!