BSE SENSEX -STOCK CHARTS AND OUTLOOK

July 19, 2009

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There is a ’strong piercing pattern’ on the weekly chart below.  It is a bullish sign though candlestick patterns always require confirmation from the next unfolding pattern. However, there are also some positive divergence on momentum indicators and the trading volume was also noticable towards the close of the week.

On the daily chart below [...]

S&P CNX NIFTY: WEEKLY OUTLOOK

June 21, 2009

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Nifty daily chart below portrays a slighly negative picture for the short term.  RSI is almost into the neutral territory with some negative divergence and ROC is already in the negative zone. But the 50days and 100days moving averages are still rising, implying that there is no serious signal for medium or long term [...]