The Coming Change

Published: Mon, 07/05/21

The market is doing some heavy lifting as it gets close to the 16000 mark. Volumes have declined during the recent correction meaning that there is no significant selling spree, but we need to get more buyers to drive it to new all time highs. The trade set up on the hourly chart below shows an A-B-C decline that means a correction that we spotted on Friday, and so today's breakout from the falling channel is not a surprise. What it should mean is that the market has the support to carry us further to new highs.

Rohit Srivastava

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Rohit Srivastava
www.indiacharts.com
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