BSE Sensex India Monthly Chart; Overbot; Ominous Rising Wedge; Negative Divergence; Upper Band Violation

India has been a favorite flavor of global traders for the last decade especially the last couple years running from 22K to nearly 37K, +68% in less than 30 months. Take the money off the table. The long-term rising wedge is ominous. The collapses from rising wedges can be quite dramatic. The last two years is also a rising wedge.

The RSI and stochastics are overbot agreeable to a pullback. The red lines show universal negative divergence across all indicators. Price has violated the upper band so the middle band at 32305 is on the table which is about -12% from the current price. 

India is about to have a religious experience over the coming months. The MACD line has a sliver of strength left in the near-term (for this year since it is a monthly chart), so some sideways stumbling may occur for a week or few and then likely a nasty correction is on the come. It would not be surprising to see the BSE Sensex at the 26K to 32K level at year-end. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.