History Shows price has a funny way of respecting channels and trendline . This is a monthly chart of Sensex for newbies each candle represents a month.
I have drawn a Green line from a swing low and have connected to a swing High and named it as "It's"
"It's" was cloned to create "Breaking" and "Bad"
So, It's = Breaking = Bad
Potenially, We are looking at...
Sensex is trading now @ 33873.44, after making a high about 36,400, was continuous from about 25,700, now it’s at 23.6 fibo level it’s highly expected it would test 32,700( fibo level 38.2) and followed by 31,000/-( fibo level 50%), ((for the positive note as it breaks 34,800 continuous higher))
market is in a make or break situation rite now.
if a close below 32600,
then double top pattern will get confirmed as well as the gap area will also get filled.
this can drag the index to ard 31000 levels by mid Jan 2018.
Bulls are in desperate need of getting 1 long green candle.
SENSEX-LTLB ,RSI<40, Support at 32470-80 near 50% retracement
according to dow theory it has formed Lower Top lower bottom formation and breaks RSI Bullish range 80-40
still this ongoing selling can stop or pause around 32470-80 level
Sensex(33218)-Support 33150-33100 then 32800 -32650 break of which it can do
32480 which is 50% retracement
and
61.8% retracement around 32150 which is pending gape in this current rally
Sensex has breached a short term trendline around 31800-780 on 6th Oct and it is critical to stay above this trendline in coming days for any upmove. There is also a minor resistance level near 32000 levels. A breach of 32000 levels and closing above it would ensure new highs. If Sensex is not able to sustain here then we may experience a bit of...
History tends to repeat itself.
Sensex has broken current channel and going through a big correction .
If you have a close look at past .. you can see that correction starts from end of the august and last till starting of the new year .
please like if you are agree with it .
Always Chart Speaks a lot..
Sensex formed nice double top with -ve divergence on RSI & started its downmove.. It has already broken imp supp lvl arnd 31500, similar to nifty lvl of 9700 supp.. Now will sensex reverse & mark as false breakdown or nifty will follow sensex to break 9700 & head to 9500 lvls (Sensex 30750-800).. Interesting moves ahead... my bet is...
Sensex made a Top Today n crashed
Nifty moving in lower band of Channel can break it.
Vix in NR.
All charts are mentioned Just for a view!!! Not a Trade recommendation
My last post disappointed many shorters but this time it may not.
momentum divergence also support my count.SENSEX making DOUBLE TOP
wait for confirmation,/// breaching the bullish trend line/// and setup your shorts,for quick money in options .better buy july puts
if any doubt, clarification i am ready
Here, I have analysed the chart of Sensex, where we see a few things :
Firstly, a double top is forming very soon ( the white line )
Secondly, the yellow trendline has been very well respected till now.
I have drawn vertical lines to illustrate that.
You can very well see that price has reacted very well and except for few false piercings, it ...
SENSEX reached c4 position which is below c1 trough(27488).
good time to short the market.the target levels also clearly mentioned.Forecasting target is
very simple in ELLIOTT wave.c5 may be any of the fibenocci number(0.382,0.5,0.618,0.786,and1.0)
