Two counts
Yellow one suggests we are in a bigger flat correction
in the form of wave 4. In this case, first, a fall towards
32300 can be expected, before another upmove begins
Green count suggests, wave 4 completd near 33300
and we are in 5th wave upwards of the current impulse
Target in this case will be 40300 followed by 41000
(downside limited till 36500)
SENSEX has two possible chart pattern scenarios standing out among others for me . On the 4 hr, My primary pattern for any play is the Ascending triangle with initial target near 38950 level. Although,There's a bearish pattern (Bear Flag) in play too but I'm not too confident about it, as the flag consolidation is roughly >/= 50 % of the flag pole. Also there's...
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.
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.
#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"
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