sensex weekly forecast report
sensex daily chart analysis
sensex on daily candlestick chart,closed at 19340 with gains in last session.sensex after touching 3 month average at 18360 given sharp turn around and which ultimately converted into bull run on account of investors confidence in india.
in last 3 session sensex almost covered 700 points!!on daily chart sensex major short term average are 18980 which weekly,18700 which monthly and 18430 is 3 month average support.
on indicators side,sensex daily rsi entering overbought zone while cci is already overbought.macd holding buy signal given at 18600.correction is due in near future.
sensex weekly chart analysis
sensex on weekly chart showing huge 850 points candle in this week!!which is bullish breakout with volume!!sensex still under performing as compared to nifty and just below April 2011 top of 19800.then next top comes at 20555 which is jan 2011 top.
sensex weekly rsi,cci and macd all bullish and suggesting momentum may support buyers only in upcoming time.
sensex major medium to long term supports are now in 17500 to 18100 zone.
sensex monthly chart analysis
in month of November sensex given total 1100 points run from bottom to top.after last month negative closing sensex now building bull market sentiment.
sensex monthly rsi is with bullish divergence and at 59 while cci is at +180 and signaling bull run ahead!!
sensex by pivot point theory has target of 22700 in long term or in 2013 if hold 19200 monthly closing basis??
sensex in year 2012 given 25%+ return and leader in Asian market.
sensex weekly outlook for 3 to 7 December 2012
short term traders hold longs while new long positions suggested near supports only.on chart 19800 and 20120 are target zones while 12000 first support and short term trend decider.
medium to long term traders must set there targets at 19800 and then 20120 in medium term.while 22700 will get confirmed at end of 2012!!