Indian Stock Market – Futures market rates, Futures Trading signals market indices NSE Nifty BSE Sensex – Tops out for the year 2009.

MUMBAI, Nov 2 (GoldTradingCalls.com) –The Stock Market Technical analysis indicates that the indian share market has topped out for the year on Oct 17th 2009. Both the broader market indices faced a further sell-off  last week, with the Sensex finishing down  further 5.44% or 914.53 points lower and the Nifty 5.71% down with the expiry week of October series.

Investors need to be wary of still holding fundamentally poor small cap stocks and mid cap stocks and should exit  the same in the ensuing short term rally.

Even the Market breadth indicators  NSE Advance – Decline shows the Trend line has broken  much ahead of the Nifty.

 

Same is true with  NSE Net Monthly High-Low making lower new highs with that of nifty advances clearly signalling loss of market participation and Nifty Index and Bse Sensex  were long due for correction.

 

Our Inhouse Quant based stock market research clearly shows that nifty chart has made a top and the forecast Blue line cleary shows the  Secondary equity shares market trend is on the intermediate down trend for the coming few weeks.