Market Next Week - Mood is BEARISH
SENSEX WEEKLY
1. On week of 27-July made a high of 38617 which is 78% of restracement and respected as resistance
2. On week of 03-Aug it has broken the lows of last 2 weeks and 3 bar candle suggesting weakness a good weakness in the market.
3. Good sign is that it is abave the EMA's and near upper BB
4. Next week market may fall taking support around EMA's & fibo cluster near 36000 - 35700
SENSEX DAILY
1. Inside Bar on 07-Aug, Levels to Watch - 38221 & 37756.
2. Breaching any one of these on Monday will give the direction to the market.
3. Other Possibilities on Monday is to form OB - which again give a room for sideways over the week.
4. If breaks low - will make short bias if breaks high will make long strategies.
5. No Divergence is present on daily
SENSEX 15 Min
1. Respecting 61% retracement, after giving BO showing sign of weakness
2. RSI divergence present and respecting resistance
OVERALL - Mood is BEARISH
1. On week of 27-July made a high of 38617 which is 78% of restracement and respected as resistance
2. On week of 03-Aug it has broken the lows of last 2 weeks and 3 bar candle suggesting weakness a good weakness in the market.
3. Good sign is that it is abave the EMA's and near upper BB
4. Next week market may fall taking support around EMA's & fibo cluster near 36000 - 35700
SENSEX DAILY
1. Inside Bar on 07-Aug, Levels to Watch - 38221 & 37756.
2. Breaching any one of these on Monday will give the direction to the market.
3. Other Possibilities on Monday is to form OB - which again give a room for sideways over the week.
4. If breaks low - will make short bias if breaks high will make long strategies.
5. No Divergence is present on daily
SENSEX 15 Min
1. Respecting 61% retracement, after giving BO showing sign of weakness
2. RSI divergence present and respecting resistance
OVERALL - Mood is BEARISH
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