Look, Honestly what I think about the current market situation #NIFTY & # SENSEX >> thread [1/n] 👇
mostly in history, I saw every time #USDINR price come upside and the market also show correction on big timeframes same time, #usdinr continuously going upside after July but our index was also going upside in June, July, and Aug after 15,183 Low
#NIFTY sustained upside to this trendline for more than two to three weeks, which was a sign of continuing bull run, and targets of 19k and 20k, in fact, all TV anchors were giving long-term and shorterm trades, all big channels, and Twitter handles were started posting 20k chart
After Trapping all Buyers, shorterm, and longterm trade we are again in a falling market, below the trendline in the weekly chart, market making big red candles and small green candles, which clearly shows the direction to the downside
now if you see all other global indices now, they already correct a lot from their highs, sharing #DJI monthly chart, if you check it corrected and went below 0.618 in trend base fibo extension, see another chart S&P 500 dropped below 0.618 & near to 0.5, using trend fib Exten.
not only DJI & S&P500 but also if you see another major index Like NASDAQ, DAX, NIKKEI, and HSI (HANG SENG ) all are falling and below 0.61 levels at least, if you noticed Hengseng is dropping badly
Every day we see headlines from the last few months & all experts are also saying the same
Now let me show you the Indian index #Nifty & #Sensex with trend-based Febo Extention below
Nifty is not below 0.618 levels & not even touched
Nifty is not below 0.618 levels & not even touched
so i can say we have to drop below 0.618 ?
so now the question is why we are not falling?
because DII FII not removing money?
because India is to a strong economy?
are we manipulated?
we are yet to drop badly?
recession is coming? if yes then when it will be the right time to buy ?
what is a clear direction for the market
share your views, I shared Technical charts data, if you have more data can discuss it over here, also if I am wrong let me know.
and Retweet if you liked it 🙂 Thanks for Reading
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