Sensex off to 45000 by March 2021

BSE:SENSEX   S&P BSE Sensex Index
Bears must have been happy to see the rising wedge formation all this while when the V shaped recovery resumed to claim the former top but cooled off at ~39500. The rising wedge formation did validate for a while and shared the target of ~34500 from a 'measured move' perspective. Note the divergence from the RSI while it tends to form a falling wedge which is the only caution this time.

But hey, bulls are back. So I suspect the possible H&S pattern as a trend 'reversal indicator' in formation turning sentiment from bearish /neutral to bullish and once the right shoulder forms completely (give or take 3 months) we would enter to claim new ATH most likely before April 2021.

45000 Sensex is incoming!
Trade closed manually: So March was supposed to be the top but we rushed past 45k to 50k!

Bears have entered the territory now.