Reuters India/S.Asia market technical analysis Aug 29
The SENSEX broke down through support at 14,206 on Thursday as you can see on the top chart. It But longer term support at 14,097 did provide some late help although there was a small penetration of this level. Ending the week above this level is important.
The good short-term trend indicators are marked with arrows on the top chart and the latest ones on the Parabolic-SAR and MACD studies are now bearish. The Alpha Beta trend is now neutral from bullish. So near-term indicators are pointing down. Watch the supports carefully as it might mean this small downtrend we have been seeing may be short-lived.
Double-click to see the chart (www.reutersindia.net).
For technical levels of South Asia markets and to view the BSE-30 .BSESN, CSE All share .CSE, KSE 100-share .KSE and Gold XAU= double click (www.reutersindia.net) and follow the links.
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