hitendravasudeo

  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.  

  RSI falling, Sensex rising shown by line of RSI and Sensex corresponding= Negative Divergence. Trend line immediate support. Fall ad close below the immediate rising trend line can lead to correction to test the 200-day SMA. Test the retracement line/speed line for price time relationship whenever it tests it. All this has happened at the earlier peak supply zone.