Current chart of the #dollex30 (#sensex in usd). Clear h&s breakdown that hasn't reversed for 3 weeks now. The pattern tgt itself is almost 9 pct lower than cmp. Even if we discount rupee weakness, we can still assume another 6-7 pct downside in the nifty. 21500-22000 seems possible.
Otoh a strong reversal post budget can invalidate this pattern (low probability).
#dollex30 #sensex