BSE Sensex/Nifty Trading calls-Downward trend to continue for most part of Sep 09.

MUMBAI, Sep 1 (GoldTradingCalls.com) – On Monday, the benchmark had fallen for the first time in seven days as equity markets worldwide slid on profit-taking after a recent rally. The 30-share BSE index ended down 0.74 percent, or 115.45 points, at 15,551.19 points — its lowest close since Aug. 21 — with 23 stocks declining.

The government on Monday said , Drought has affected 278 districts, increasing its spread despite higher rainfall in the past two weeks and making the rising prices of sugar and lentils the big worry for the country.

Most of the fundamental factors, like improved GDP, are already factored into the market,” T.S. Harihar, vice president at ICICI Securities. “In the short term, at least till the next quarterly results that are a month and a half away, the market will continue to trend according to overseas markets.”

Our Inhouse BSE Sensex trading forecast shown in BLUELINE superimposed on price chart clearly shows that BSE Sensex has topped out and is currently commenced a multi-week fall. The weakness should persists for most part of Sep 09.