SENSEX trade ideas
Long SENSEXI am expecting a quick move past 30,000 when the market opens on Monday. The correction on Friday was too rapid and I am expecting a pullback which should break through the 30k level. And if this does hold true we are in for a massive up move on the SENSEX as I believe "animal spirits" will take over past the psychologically critical 30k level.
To give you some context, the last time the SENSEX touched (briefly broke) the 30k level was in March 2015. The current bull run definitely has more steam (based on economic reforms that are in progress/or have been announced), but we will have to see how it survives the earnings season coming up.
The best way to play this would be to go long OTM calls.
India's Sensex index still a sitting duck for bear huntThe Sensex is back testing it's old highs at 30000 from 2015. It's still ripe for a bear attack which may well come next week
Dez 2017: 33.500?Longterm view:
For me the Chart is clear bullish. The Level for further Longs is 30.000
AT present, the RSI turns red, u should exspect a healthy drop soon after kissing the Pivot resistance Level at 30.000. Kissing the neckline would be typical.
Fibonacci Observations on SENSEX
Observations are mentioned on the chart.
With this analysis i am not trying to predict top or bottom or future direction of the market. With this analysis i am trying to share the idea of different ways of doing analysis, i hope it will openup new ways by which you can do analysis of your own.
BSE SENSEXHigh probability of Sensex (Bombay Stock Exchange) to cross 30000. The Move to be confirmed with a bullish close this month. The arrows indicate potential moves based on previous price action when the Uptrend resumed after breaking the Retracement (2011-2012)
Short Sensex for Target @23000As per Elliot Correction Wave (ABC) theory the BSE Sensex is likely to correct upto 23000 level
