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I hope I am right ...Its just a set up which is observed and shared, I am still short in my positions.
SENSEX looks primed for a bounce at green demand orderblock.
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 ...
ENJOY THE ANALYSIS
Top 37740 Low 35805
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Enjoy the Analysis,
A cup and handle breakout is seen on Sensex Weekly chart. Next target: 41500.
Sector Having Bullish BIAS in T+3 Days
NIFTY' AUTO: 10,855.65, 0.30%
NIFTY' IT: 14,613.75, 0.06%
NIFTY' MEDIA: 2,916.30, 1.29%
NIFTY' METAL: 3,445.25, 1.16%
NIFTY' MNC': 14,675.95, 0.37%
(Data after 07th Aug 2018, NSE Website)
.... rest mentioned in Charts.
at trendline resistance
high chances of fall now
reasons- overbougt/ trendline resistance
Bullish on indian market
as price is above the cloud and bear market start when price close below the 29000 level.
If new high on sensex then bear level 29000 is not valid.
Squeeze complete...next week there is going to be a move either side...
Marked price point should be strong support ST....
#SENSEX- 35900-36000 major supply area ..need a close above 36000 for decisive up move toward 36500 and more
downside support exist at 35000.
When #Nifty is playing game from last 3 days one can look for #SENSEX at crucial times "Old is Gold"
june month will be interesting to see
though i expect upmove towards 36476 to test rectangle upper boundary
Looks like sensex is on top and SHORT opportunity taking place here .
Bull market which started in 2009 from 8080 to 36370 in 9 years is about to halt.
If it falls below 34290, we can SHORT it till 32515 where it can have little bounce but may not go too far.
Breaking below 32515 will goto 31070 and then 29180 , here it will bounce harder.
Fall below 29180 ...
Disclaimer... not an investing/trading recommendation
Sensex Spot @ 33,752, open @ 33,671., market is trying to form head and shoulder but still not formed , if market break 34,200 then we expect for bullish in coming weeks, and if make potentially head and shoulder and break 32640 then will test 30,400 Levels.
1. For bullish chances are 25%
2. For bearish chances are 25%
3. For being in Range 34,200level to ...
From 2005, we can see roughly 200 week cycles . As can be seen from charts it has clearly made a top and on its way down . Fibonnaci channels for 5 year and 10 year indicate first 32500 will get broken and then 30700. It should find support at 28000-29000 levels.