$NIFTY $SENSEX November Monthly iMTF™ Market Update. The Indian stock market continues to make new high’s. In November, we made another high too.
Note: All charts are provided by TradingView for this article
Below is the monthly chart.
Since Feb 2004, the India stock market has been in a long term bullish trend. There was a medium pullback in 2016 but the market has yet to experience a major pull back.
The market continues to move higher slowly approaching the next major resistance of 10527.78 breaking the last resistance of 10255.00 Here is the chart from the last update. It was approaching the resistance of 10255.00.
Here is the currently monthly chart. It shows the market approaching the 168% $Fibonacci retracement slowly.
Below is the weekly chart. The weekly is strong and shows no signs of weakness at all right now.
Below is the daily chart. It show some sign of weakness with a multiple time frame resistance at 10388.62 with a major support at 10255.11. We will be monitoring this timeframe to see what is going to happen in the Indian stock market for the next couple of weeks.
Here is a list of India stocks that are completely bullish. The list has gotten bigger.
Here is a list of India stocks that are completely bearish. The list is going smaller
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