Sensex has felled by almost 200 points from the past 1 month.
It is just moving almost in a SIDEWAYS trend.
Is this happening because of the excessive valuation of sensex ???
Acc . to RBI the valuation of SENSEX AND NIFTY are higher than expected.
Is this the cause of this SIDEWAYS/DOWNTREND ??
Berger paints as on 17/5/21
1. Current Trend: Sideways
2. Trading near its resistance level.
3. Tested resistance level many times.
4. Resistance level: Around 770
5. support level: Around 700
6. RSI > 60
7. MACD: Fast length above the small length
8. Volume: Higher volumes past two days
Thought process: If the price in near future breaks resistance...