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Sensexanalysis

Long term pattern for Indian SensexThere is a very strong support for the BSE Sensex which has been successfully defended in multiple watershed points in Indian history 1) 1980, when Indira Gandhi came back to power. Mrs. Gandhi replaced a government which was seen as being more friendly towards US and corporates. 2) 1984, when Indira Gandhi was assassinated amid the Sikh extremist movement and retaliatory massacres. 3) 1988-89, at the Height of the Bofors scandal and when bear Cartel was at its most active. 4) 2003-04, when the bear market due to the Dot com bust and the Ketan Parekh scam bottomed out. 5) 2020 Corona pandemic induced sell off. Interestingly this support was not tested fiercely in the great financial crisis of 2008-09. India in general was probably one of the best performing countries throughout the recession as Indian financial systems were still largely in government hands. There is a resistance line which has so far successfully repelled two well known periods of excess. The Harshad Mehta rally tested it in 1992 and the broader emerging markets rally tested it in 2007. There is a possibility that the current rally will again test this line if it gets up too fast. As of now, the markets are modestly overpriced, but nowhere near historical excesses. If global cues are not bad, there is room to run for this rally.
INDEX:SENSEXLong
by chiranjib822
SENSEX Recession Chart Bear Market Layout - Elliot WaveSENSEX Recession Chart Bear Market Layout - Elliot Wave Corona Virus has affected us and Economy a lot which I think will surely lead to a Recession, As in 2008 recession, Market had 63 % decline from ATH which lead to housing market crash. I think the same will happen again for next 2 years. Good buying level to enter the market for long term is around 21000 level as shown in chart. also 33000 level is also good to enter short or exit market.
BSE:SENSEXShort
by Prasad1618