SENSEX breakout on Weekly

 


Sensex after negative divergence on daily chart profits the breakout on weekly chart.

Negative Divergence on Daily lead to consolidation without breaking key support of 62300.

At a point it looks might break it but did not.

Consolidation continued for eventual breakout.

Price and Time Relationship are shown in the chart.

As long as 62800 is not violated expect the Sensex to move higher.

Even if it violates then correction will be intermediate short to medium term for creating higher bottom.

Any Daily or Weekly oversold will be next best opportunity for long term and passive investors.

 

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