Thursday, January 20, 2011

Indian market on 20/1/2011

Sensex daily chart (click to zoom)
Sensex today opened in red and took support at 18820 where the 200 EMA exists, it bounced back from that level and went in green territory to close at 19046.
Technically stochastic is still in buy mode with RSI not giving positive crossover on daily chart.
Direction for sensex is unclear becuase of negative market breadth today..
We hope sensex breaks its important resistance 19065 tomorrow.