Sensex
Nifty 50 BTST/Intraday Breakout20 SMA has crossed above 50 SMA in the 30 Mins Time frame, A breakout has also occurred. Nifty 50 looks to turn bullish in the short time frame which can be utilized.
Entry @ 17100
SL @ - 0.5%
TP1 @ 1.5%
TP2 @ 2.0%
Note: Only for educational purposes. DYOR before trading or investing.
TATA MOTORSThe idea is based on the Elliott Wave Theory. The long term bullish cycle has started from March 2020, and after a 5 wave (impulsive) rise, the price is now correcting (WXY correction). The level of 300 is crucial as it is a strong resistance and also coincides with the 50% fib. retracement.
NIFTY - Bearish Market ViewThe idea is based on the Elliott Wave Theory. The current upward momentum is very low and the price is moving in a corrective structure. A downward move is likely from the current resistance zone (or a possible likely scenario with 61.8 fib correction).
A move over 18480 invalidates this idea.
The India bubbleDisclaimer: My charts reflect my own analysis and opinions which could be wrong; do not take anything here as investment advice because it is not.
I've been watching the Nifty and Sensex indices for a while, noticing their absolutely insane. Since 2004 the Nifty has run over 1200%. Even in the best scenarios, these moves eventually come to an end and have to correct to at least some degree, because such growth cannot be sustained indefinitely.
What caught my attention was not just the sheer gains but what in my eyes look like the same identifiable sections that nearly every market cycle forms which I have labeled in this chart. Note: I'm aware that my eyes may be deceiving me, but this is what I feel that I see. And the fact that there is a massive bearish divergence on RSI, the stochastic, and the macd, on the monthly time frame, supports my suspicion. Not to mention the Adani group news that broke right at what I believe is the top, to catalyze a move down.