Sam69569

Sam69569

On the monthly time frame, sensex is still on uptrend untill it break the green line. Green line which is 50MA is the correction sensex made over several year. If the green line is broken then we are heading toward 2008 crash and 2020 covid bottoms (redline). Looking at inflation and interest rate rise we will most likely touch the redline 100 MA

Sam69569

So far market was in parabolic move until the current crash due to pandemic. Market enter the bearish territory after small showing some upward moves, same was reflected in 2007-2008 with almost same retracement. The red line the support line for the parabolic curve . As the market is bearish hence the long term support will be at 21k and will have consolidation...