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India’s Great Equity Bull Market May Hit Technical Glitch: Chart

Is it time to call a top for the great Sensex bull run of 2017?



A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
A bronze bull statue stands at the entrance to the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)


India’s Great Equity Bull Market May Hit Technical Glitch: Chart

(Bloomberg) -- Is it time to call a top for the great Sensex bull run of 2017? While the improving long-term fundamentals of India are winning many supporters, short-term technicals may dominate for now.

Bearish divergence is developing between the MACD (moving average convergence divergence) indicator versus the Sensex Index which may provide enough of a sell signal to cap the upside into month end.