Price has broken down the trend line and is in a Pull back structure. May test 39000 (psychological level) which is also the base of trendline, previous support and near a FIB level.
If pullback is confirmed then price may test 33-34000 range.
Viewing at uncertainties globally, drop seems likely.
A huge economic power that owns the atomic weapon with a population of 1340 million people. Or half of the population is under 25 years old. Very young and very dynamic country where there is everything to build. Despite the 7% growth per year, this is not enough to give work to all new young people who are 1 million every month. This ensures a level of cheap...
Price Forecast timing analysis by pretiming algorithm of Supply-Demand strength
Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk
Supply-Demand(S&D) strength Trend Analysis: About to begin an adjustment trend as a upward trend gradually gives way to a slowdown in rises and...
Stock investing strategies
Investing position about Supply-Demand(S&D) strength: In Falling section of high risk & low profit
Supply-Demand(S&D) strength Trend Analysis: In the midst of a rebounding trend of upward direction box pattern stock price flow marked by limited falls and upward fluctuations.
Long Cycles here indicate Sensex downtrend will continue till April 2019. As you can see 2 long cycles of roughly 270 bars each indicated by bid arrows. The intermediate smaller cycles which constitute the longer cycle are 165 bars and 105 bars approx. They are reversed in case of second long cycle. Since current level is fibonnaci support it will be good trade...
India became an independent country in 1947 and had a Grand Supercycle Wave I into the 60’s. Grand Supercycle Wave II finished up the 70’s, and this chart shows the completion of Grand Supercycle Wave III.
The price action is reflective of the massive fiat credit creation in the Indian economy, hence the equity bubble. A true democracy, India is in the...