Indian market on 17/1/2011

Sensex dialy chart (click to zoom)

Sensex today was choppy with no clear direction. On daily chart it formed small doji candle stick pattern , if tomorrow market closes green it will be a morning star formation which lead to bullish direction of market to some more trading session. Technically RSI and Stochastic on daily chart both are still in sell mode. We see short term trend reversal. This argument is also supported by bounce back of sensex today from 20 EMA which is at 18183