Has the Indian Sensex run out of steam?
If you look back at 2019, you could call it the "year of protests".
We've had a wonderful rally the last couple of weeks on the Indian Sensex, despite all the troubles on the ground, the markets seem to be oblivious of any that. But there's only so much you can go up before taking a rest.
Sometimes you see patterns like this and wonder whether it was the last push before a major correction, or if there is more to go.
We're reached the 272 marker. Typically crossing that means we could go higher, but looking at the above chart - that doesn't seem to be the case. This is a weekly chart.
A quick glance at the daily chart gives you the impression that we could be seeing some downside this month. I'll pick this up next week, to see how the trend is emerging.