marzil

SENSEX Potential Bounce Zone?

Long
BSE:SENSEX   S&P BSE Sensex Index
SENSEX looks primed for a bounce at green demand orderblock.

Analysis -

  • Price about to enter demand zone which has already been tested twice and bounced.

  • Ichimoku edge to edge target is about to be fulfilled.

  • Bullish divergence on weekly with several momentum oscillators, will post RSI divergence down in the updates.

  • Oscillators are about to be bottomed out.
Comment: Bullish weekly divergence on RSI
> Invalidates if we close below 32600
Comment: Demand zone is a very conservative entry, won't be surprised if we see market inclining before we meet demand. Be prepared to get front-run, although I personally wouldn't long before we atleast get edge-to-edge target on clouds.

Comments

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