BSE Technical Chart Update

My Analysis of Technical Charts would also have some fundamental reasoning behind it. I am trying to combine technical and fundamental parts so as to get better decisions on investments.

BSE has started to weaken up now. It has broken the trend line. Sideways analysis of BSE chart shows that further weakening may cause SENSEX to slide to 17, 570 levels but before that 17840 may be a support to watch out for. Global cues may well cause a sudden downfall. US recovery has virtually stopped and Japan is slowing down. There is no good news coming from anywhere except for Germany which is not enough to sustain the current levels of prices, specially over- priced Indian markets. I don’t see any sustainable rally in the market.

BSE technical chart 17.08.2010

Hitesh Anand

I am a post graduate from Newcastle University, UK. I like studying and analyzing economic data and financial health of world.

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