It's over, Indian Bros.
Unless the Indian Broad Equities can manage to break out upward of the monthly 20 SMA wrt the Chinese, currency adjusted, it is heading way lower.
As of now, charts are pointing to - Sell India, Buy China. The same continuation trade that happened from Sep 2024 to Feb 2025.
There was a respite in that trade from March to June 10, 3 months and a week.
The burden of proof is on the CNX500. If it can manage to break and sustain the 20 Monthly SMA, then, this analysis will no longer hold.
