Monday, July 24, 2017

BSE Sensex India Daily Chart; New Record High at 32,246

India's BSE Sensex finishes today up 217 points, +0.7%, to 32246 a new record. The chart still needs updated for today's action. The negative divergence (red lines) is in play so price is in need for a pull back and rest. The middle band at 31505 is a downside target going forward in the near term but global traders are throwing money at India and this will likely keep the party going ahead. The tight standard deviation bands (pink arrows) are interesting squeezing out an initial move lower in price but once the lower band was violated price shot skyward and never looked back. It would be prudent to begin scaling out of India if you have enjoyed the nice rally. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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