Posted a few weekly charts of some major stocks in last two posts.
ALL BEARISH POSSIBILITIES
many have broken major supports.
some just started to initial symptoms of weakness.
some near major supports showing a possibility to break those.
as all above are weekly charts expected possible moves should be BIG.
But for all this to happen we will have to watch carefully how nifty behaves in 7400-7450-7500 zone. I am somewhat confident we are going to see near 7450.
As Anil Trivedi sir mentioned "when a major sup/res breaks and if stock prices reverses again after breaking it, can be a big reversal". and all those are weekly charts near or below major trend lines /supports, we will have to be more careful while choosing/entering a trade and about s/l.
In case of axisbank chart, I have marked a thick black neckline, but I am not sure if it's a valid HnS. If yes... Balle Balle !!
looks like AUTO's still have much more pain left. PSU banks will fall some and consolidate or will start a process to prepare base, but Private sector banks may lead the fall.
Its just my views and can go very very wrong !
See ya next week end ! with fresh charts .. till then Have nice time ! GN !
ALL BEARISH POSSIBILITIES
many have broken major supports.
some just started to initial symptoms of weakness.
some near major supports showing a possibility to break those.
as all above are weekly charts expected possible moves should be BIG.
But for all this to happen we will have to watch carefully how nifty behaves in 7400-7450-7500 zone. I am somewhat confident we are going to see near 7450.
As Anil Trivedi sir mentioned "when a major sup/res breaks and if stock prices reverses again after breaking it, can be a big reversal". and all those are weekly charts near or below major trend lines /supports, we will have to be more careful while choosing/entering a trade and about s/l.
In case of axisbank chart, I have marked a thick black neckline, but I am not sure if it's a valid HnS. If yes... Balle Balle !!
looks like AUTO's still have much more pain left. PSU banks will fall some and consolidate or will start a process to prepare base, but Private sector banks may lead the fall.
Its just my views and can go very very wrong !
See ya next week end ! with fresh charts .. till then Have nice time ! GN !