Reuters India stocks technical analysis Nov 4

Near-term (daily chart)

Still good bearish signals on Tuesday. They have all come good as you can see from the top chart with the Slow Stochastic, Parabolic-SAR and MACD coming together to give very good downward signals. The Slow Stochastic has crossed at the bottom now so that should help provide some short term support. Also, you can see from the RSI that it is getting overbought so that with the Slow Stochastic means we can expect some short term relief to this latest drop. Overall though the MACD is still pointing down quite aggressively.

Double-click to see the chart (www.reutersindia.net).

For technical levels of the BSE-30 .BSESN, Oil (Light Crude Futures) CLc1 and Gold XAU= double click (www.reutersindia.net) and follow the links.