Sensex is showing a broader range of negative divergence pattern from 21 day Twiggs money Flow indicator with short term resistance near 16100 levels and Support zone comes around 15400. Breakout above 16100 could take us to the next resistance levels of 16600.However respecting
the resistance zone 16100 indicates a possible trend reversal
the resistance zone 16100 indicates a possible trend reversal
Reliance also showing such a broader range of divergence similar to sensex
Note : Reliance was mistaken to be breakout in last post
http://www.marketcalls.in/2009/08/reliance-and-chennai-petrocpcl-in.html
Reliance is still in the grip of negative divergence