India
is everything rainbows, roses, and unicorns for India?The great mobility of capital in India has been known for some time.
In the endgame however, valuations becoming overstretched, although a mere extra, is one of the principal actors. So we must consider unicorns to be developed as as necessary step in this battlefront and it is no surprises from a timing perspective.
So we have the following charts: Nifty slowly approached the 12,000 level, and when arrived it brought together all kinds of unloading, more than enough for a hearty breakfast.
Once more we consulted, this time with the price at 8,500, and this picture was intended to convey how after the penetration, we should typically look for a slingshot towards the highs in a 5th wave.
Here we now have the proper moment to get into contact with the corrective swing. I am looking for an August/September temporary high that could last into Q1 2022, and so we can become a bit more enterprising with the next moves.
Here eyeballing a correction from current levels, 16,500, towards the 12,500 support over the coming months and quarters. This is demonstrating profit taking as the big beasts and sharks book gains for the year, and bringing your portfolio to safety rather than anything else.
BTC (INR-adjusted) / SENSEXAs long as we are above 36.9 for BTC / Sensex, there's no reason not to own BTC.
The almost-10-year-old trendline is also acting as a strong support zone.
One more interesting point to note is how BTC ripped up in May 2017 after breaking out of the Nov 2013 highs. After the May 2017 breakout, the former highs acted as support in July 2017. Post that retest, BTC / Sensex roared to the famous 2017 BTC bull run.
Now, a similar pattern in the ratio, with those December 2017 highs acting as strong support, can be seen developing in August 2021.
Not investment advice. This is only for educational and entertainment purposes. Please refer to your investment advisor before doing anything. I am neither a registered investment advisor nor a research analyst.
BTC SHORT TERM After the $44500 support was broken, it broke out back to this support and is currently trading at $46100.
However, I'm still waiting for a reaction at the $46700 resistance, which has been tested twice and can't pass yet.
If btc did not break the major resistance level we saw BTC @ $44800.........
*Not a financial advice******