Look at the weekly chart no divergence
These divergences on hourly/daily charts can happen if the volume is low but the fall will be small about 300-500 points maximum and will not be sustainable
BeuniQEBusinessHub
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@sanidhya13, according to weekly chart, after a long rally of 5000 point, 1 inside candle or correction is pending..... Market can't move straight continously...it has to retrace before continuation.
That's why i told that it can be correction of 2000-3000 point not a crash. And 1 more point... market can't able to sustain straight 90 degree move, it has to spend time before next move.
milind2suryawanshi
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@BeuniQEBusinessHub, Hi, Very well explained. Can you tell.me what Is Inside Candle?
BeuniQEBusinessHub
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@milind2suryawanshi, Inside candle is a halt candle after any bullish move. Market always go up by forming inside candle, You can do intraday at every inside candle form. Open any chart/trending days... and check after every bullish candle 1 small spinning top type red candle form and next candle will again form bullish one. That spinning top type candle is Inside candle , it shows market halt / little bit profit booking.but bull are still in control.
@BeuniQEBusinessHub, ALL I MEAN TO SAY IS , I DON'T THINK IT IS A GOOD IDEA TO EXPECT A 2000-3000 POINT CORRECTION
INSTEAD LOOK FOR A FALSE BREAKOUT AND SHORT THERE FOR A 500 POINT FALL BECAUSE MARKETS ARE MAKING US BELIEVE THAT IT CAN RISE UNLIMITED WITHOUT A CORRECTION SO LOOKING FOR A FALSE BREAKOUT AND SHORT THE MARKET @13700-13800 WOULD BE GOOD
These divergences on hourly/daily charts can happen if the volume is low but the fall will be small about 300-500 points maximum and will not be sustainable