Sensex to cross 18k in July – Time Analysis Possibility

The last time i did time analysis was in our report – Time to be Optimistic not scared which was posted on May 20.

It was mentioned that index should bottom out in the next 3 sessions. Sensex made a low on May 25 which was the 3-4 session after the post.

For the post look into the following link – SENSEX time to be optimistic not scared

Sensex Time Anaysis:

In the last 1 year there have been some time wise consistent moves.

1) The downmoves have roughly lasted 20-30 sessions.This can be seen in the chart posted previously on TIME ANALYSIS -

2) Similarly the upmoves have roughly lasted for 40-45 sessions.

So if such a pattern is to be continued then the current upmove should last till the 2-3rd week of July.

SENSEX PRICE ANALYSIS:

1) The downmoves have roughly been 11-12 % which can be seen from the previous chart posted on Percentage Analysis

2) Similarly the upmoves have been in the band of 15-16%.

So If such a pattern is to be continued then the current upmove could possibly take the markets to 18300-18500 band till 2-3rd week of July.

Have been able to make this much charts only. In the short term we might be closing in on a resistance zone of 17400-17600.The strong supports are now around 16900.

Will be posting a detailed analysis on Sensex and Global Indices with a technical view in the weekend.

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Related posts:

1. Sensex to make bottom in May end ? Possibility ?
2. Sensex Time Analysis …. A review again.
3. Technical Analysis Training Schedule and Refresher Session
4. Sensex – Time to consolidate in a range before setting up a move in July !
5. Sensex – Will it be able to cross 20300?