On the Way Towards New High Sensex may make a new high once it breaks that red resistance zone to complete abcd pattern
Consult you financial advisor before investment This is just for education and monitoring purpose
SENSEX trade ideas
Sensex Assessment – Bear MarketSensex Assessment – Bear Market
• Most Reliable resistance level will be broken, If the Price Comes below Support level, then this will act as Resistance and you can expect the market to go down 28,000
• Head and Shoulder Pattern is in formation, the stock to be sold once the re-test done as marked on the chart
• Market have reached 1.618 Level which is most high point, now the market should reverse as a corrective action
• 1st Sell Target to be set to 28000, Will be able to give exact target once the retest is done
Expect long positions from hereWe may see pullback from here technically as we can see strong support level, but it also depends on relief discussion for FPIs and Global markets.
Big bear ahead ?If Sensex long term trend follows suit, we can expect a bear market to extend into 2022
SENSEX | Harmonic PatternHarmonic Pattern seen in Sensex indicating a bearish bias. A minor support at 39570 is holding the index for now, below which 39500 is a very crucial demand area. If that level holds we can see further upside in coming days. However, if 39500 fails to hold there would be a sharp correction towards 39250 and 39000.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
SENSEX - Wave countsTwo 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)
BSE short term 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 no sign of trend exhaustion on this move up from the last recent swing low on the 4 hr, where it gave us bullish divergence before moving up. But that doesn't confirm that it wont go down . It always can. If it does, my initial downside targets for the flag breakdown are around 32000-30000 ranges. Strong break of patterns either way would be a nice confirmation to enter a trade.
I'll post my probable count for BSE below.
Remember, this is not a financial advice and just my view of the market , how I THINK its going to play out.
#Sensex: A contrarian view: Will it play out ??I hope I am right ...Its just a set up which is observed and shared, I am still short in my positions.
SENSEX Potential Bounce Zone?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.
Breakout on Sensex WeeklyA cup and handle breakout is seen on Sensex Weekly chart. Next target: 41500.
