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Investtech Indices
S&P BSE SENSEX (999901.BO)
Close: 77 156.00 (-422.59), Nov 21, 2024
Negative
Low risk
Automatic technical analysis. Short term, Nov 21, 2024
S&P BSE SENSEX has broken the falling trend channel down in the short term. This signals an even stronger falling rate. It also gave a negative signal from the head and shoulders formation at the break down through the support at 80983. Further fall to 76524 or lower is signaled. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the index has resistance at 78600 points. RSI below 30 shows that the momentum of the index is strongly negative in the short term. Investor have steadily reduced the price to sell the index, which indicates increasing pessimism and continued falling prices. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The index is overall assessed as technically negative for the short term.Recommendation one to six weeks: Negative (Score: -96)
More analyses of S&P BSE SENSEX
Candlesticks
Short term: Negative
Medium term: Hold
Long term: Weak Positive
Learn more about key technical aspects of this stock:
TrendFalling trend breaking downwards
Falling trends indicate that the company experiences negative development and decreasing buy interest among investors. Breaks down indicate an even steeper rate of decline.
Support and resistancePrice below resistance
The price is below a resistance level, where the stock has previously turned downwards. Many investors may consider it expensive if it rises up to resistance, and may then wish to sell.
Momentum,RSIHigh negative momentum and oversold
The stock has high negative momentum and RSI is oversold, see the green colour in the price chart. The stock has fallen a lot, without significant corrections upwards. This is to be expected in falling trends, but may indicate that the price soon will rise in horizontal or rising trends.
Price formationHead and shoulders formation
A sell signal from a head and shoulders formation signals increasing pessimism among investors and the start of a falling trend. Formations like this are considered some of the most reliable formations in technical analysis.
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The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer.
The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.
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