Chat is self-explanatory.
Setup is very simple only Support and trend are used.
Asian Paints trading near the Support level.
Asian paints is weak below 3150 can drag down 150-200 points down from level.
The chart is itself explanatory.
Ambuja cement testing its dynamic support as well as it is near to give head and shoulder breakout.
Keep a close eye on Ambuja cement if the breakout happens and it stays below 387 then we can see more weakness.
and price can drag up to 347-40
It is in (B) wave correction as ABC, where A wave looks like forming impulse, so expecting one more high and then correction of B and one more leg higher as c of (B). Once it finished (B) again it will go down for (C) down in complex (W)(X)(Y) correction down.
Sensex has now finished above the 2018-trendline for the third time on a weekly basis. RSI also showing strength.
More confirmation that India is now a good place to invest your money.
For educational and entertainment purposes. Not investment advice.
Can you spot the pattern? The past 2 times the SENSEX has out outperformed the S&P 500, we have seen big bases, trendline breakouts and RSI confirmation.
Wait and watch to see if history repeats itself this time too.
If the ratio stays above the trendline for a 2-3 week period, it's game on for Sensex.
For educational and entertainment purposes. Not...