SENSEX trade ideas
S&P BSE Sensex: Critical levels in H4 for WC 17-5
S&P BSE Sensex: Critical levels in H4 for WC 17-5
The following technical analysis is based on a price structure with support and resistance estimates which separates into trading zones with the solid lines are the major levels.
A trading strategy with a robust price structure could change the way you look at price action. It predicts major future levels based on price action.
The estimated major levels for WC 17-5 are around
50382, 49362, 48745, 47734
We could be looking at 48745 and 47734 as major support for the beginning of the week. If we find support at 48745, then 49632, 49757, and 50382 are potential targets to the upside.
sensexSensex
Weakness and slide is surely below 48236.
Supply zone at 49661-50265.
Breakout and close baove 50265 is essential.
23.6% projection breakout will happen automatically
above 50265 for rise towards
next supply zone 51863-52516
The 61.8% projection for a-b-c relationship
will be witnessed on breakout and close above 50265
for rise towards 52147.
Traders long need to maintain stop loss at 48236.
Sell on rise to 49661 or above with a stop loss of 50265.
Trade long above 50265 for supply zone 51863-52516.
SENSEX Buy ZoneSensex is rebouncing from the median line of the pitchfork channel as expected and should correct back to the trendline zone. Between these parallel channel is accumulation zone imo
SENSEX CHART PATTERNHEAD & SHOULDER PATTERN FORMED ON SENSEX DAILY CHART. ALSO, THERE IS A BEARISH DIVERGENCE ON RSI. IF THE BLUE LEVEL ON PRICE CHART IS BROKEN, WE SHALL SEE A DOWNTREND.
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.
SensexRef: The market might be liquidity driven rather value-driven. Long term market might be bullish but a temporary correction can be seen soon.
Market volatilityhold your money and wait for good time to enter in market in my opinion wait for 49500 points ( for swing trader)
Sensex - Long term Trendline AnalysisExplanation in Chart. The market might be liquidity driven rather value driven. Long term market might be bullish but a temporary correction can be seen soon.
Did you book BUMPER PROFITS 💰 in trades posted by me ? 👇CheckDate Scrip Movement (All Values in %)
6 January Goodluck 17.1% in single day
5 January GAEL 8.2 (still running)
5 January Polycab 14.2
5 January Birla Cable 12
4 January Steel strips 7.2 (still running)
4 January Tata Metaliks 8.15
4 January GSFC 7.9 (still running)
4 January Maithan alloys 6 (still running)
3 January Heidelberg 6 (still running)
2 January India glycol 23% in just 5 sessions (3rd biggest bumper)
1 January Mangalore Chemicals 28% in just 5 sessions (2nd biggest bumper)
1 January BEL 7 (still running)
1 January Tinplate 13.1 (still running)
31 December Grasim 9.24 (still running)
30 December TAKE Solution 11.75 (still running)
30 December RUPA 10.12
29 December Vardhman Acrylics 15
29 December Elecon Eng 32% in 5 sessions (The biggest bumper trade)
29 December Timken 6.2 (still running)
28 December Usha Martin 17.12
28 December Lux Ind movement just started
28 December Sbi life 5.7 (still running)
28 December Cesc Ventures 14.8
28 December Nilkamal Movement not started yet but will
28 December Mahindra lifespace 11
26 December Shalby 18.1
25 December Jubilant LS Just triggered
24 December Sunteck 6.1 (still running)
24 December Symphony 8.24 (still running)
24 December FSL 32 in 2 days
24 December JohnsonCAC 13.3
24 December Whirlpool 11
23 December TATA elxsi 14.1 (still running)
23 December Sonata software 13.8 (still running)
21 December MFSL 7.8 (still running)
20 December Matrimony 21.2
20 December HUDCO just triggered
20 December Ultracemco 8.85 (still running)
19 December SRTransfin 27 (still running)
18 December Avadh Sugar 11.3
18 December kajaria 5 (still running)
18 December HDFC 6.5
Aforementioned are the swing trades that I had been posting. I didn't post the trades of 6th Jan to last trading day as movement is not completed yet. The list doesn't contain few trades which didn't trigger or showed very little movement so far like cipla, zentec, etc but they will surely do. It's just that some stocks are less violent and take their time more! Also some hit SL as it is market but what matters is the accuracy and risk reward ratio which makes us profitable.
For analysis of these all below, you can go to my page and check it
For future updates on time, like, comment and follow.
SENSEX AnalysisSENSEX have a strong resistance at 46241 (Fib level 61.80 %).
Rejections at yellow zone ( i.e. Fib level 61.80 %) may push the SENSEX down to 44348 (Fib level -27 %).
Once crossed the green zone (i.e. Fib level 78.60 %), we can expect bullish trend & SENSEX can reach up to Fib level 127 %.
