US markets have given a break-down from Head & Shoulders pattern
Most of the Indian sectors too look vulnerable
THREAD: Technical Analysis for US market & 10 Indian sectors🧵
Collaborated with @AdityaTodmal
Most of the Indian sectors too look vulnerable
THREAD: Technical Analysis for US market & 10 Indian sectors🧵
Collaborated with @AdityaTodmal
Starting with the mother market
1. #DJIA : BD of H&S pattern
1. #DJIA : BD of H&S pattern
3. #BANKNIFTY
• Monthly: BD of bearish engulfing, awaiting tgts
• Weekly: M pattern under formation, no BD yet
• Monthly: BD of bearish engulfing, awaiting tgts
• Weekly: M pattern under formation, no BD yet
Charts of few heavy weight stocks in BANKNIFTY index:
a. #HDFCBANK: Near immediate support at crucial levels (weekly)
b. #ICICIBANK: M pattern under formation (weekly)
c. #KOTAKBANK: Descending triangle under formation (daily)
d. #SBIN: M pattern under formation (weekly)
a. #HDFCBANK: Near immediate support at crucial levels (weekly)
b. #ICICIBANK: M pattern under formation (weekly)
c. #KOTAKBANK: Descending triangle under formation (daily)
d. #SBIN: M pattern under formation (weekly)
4. #NIFTYIT
• Monthly: Bearish engulfing BD
• Monthly: Bearish engulfing BD
5. #NIFTYAUTO #CNXAUTO
At immediate support zones, waiting for confirmation for any bounce from support zones
At immediate support zones, waiting for confirmation for any bounce from support zones
Charts of few heavy weight stocks in NIFTYAUTO index:
a. #MARUTI: Near immediate support
b. #TATAMOTORS: On a larger TF the TL is acting as a resistance (monthly)
Immediate support at 355 levels(daily)
a. #MARUTI: Near immediate support
b. #TATAMOTORS: On a larger TF the TL is acting as a resistance (monthly)
Immediate support at 355 levels(daily)
6. #NIFTYMETAL #CNXMETAL: Holding up very strongly, but need to clear 6300 levels decisively for further upside
Charts of few heavy weight stocks in NIFTYMETAL index:
a. #TATASTEEL: Counter H&S under formation, awaiting a clear BO on weekly TF for more upside
b. #HINDALCO: Sustaining at higher levels
a. #TATASTEEL: Counter H&S under formation, awaiting a clear BO on weekly TF for more upside
b. #HINDALCO: Sustaining at higher levels
7. #NIFTYPHARMA : Witnessed a sharp rally from the support zone mentioned in the earlier post
However change in trend would be confirmed if it breaks & sustains >LH2
However change in trend would be confirmed if it breaks & sustains >LH2
Charts of few heavy weight stocks in NIFTYMETAL index:
a. #SUNPHARMA: Near 52WH, however it needs to take a breather (small consolidation)before another leg of upmove to sustain
b. #DIVISLAB: Needs to break >4520 for a BO of W pattern from support
a. #SUNPHARMA: Near 52WH, however it needs to take a breather (small consolidation)before another leg of upmove to sustain
b. #DIVISLAB: Needs to break >4520 for a BO of W pattern from support
8. #NIFTYFMCG:
V shape recovery is usually not sustainable, also its erstwhile support has now turned into resistance,
V shape recovery is usually not sustainable, also its erstwhile support has now turned into resistance,
Charts of few heavy weight stocks in NIFTYFMCG index:
a. #HINDUNILVR: H&S BD (weekly) so no respite on this one soon
b. #ITC: So far moving within the rising channel (the only brownie point is it being resilient during uncertain times)
a. #HINDUNILVR: H&S BD (weekly) so no respite on this one soon
b. #ITC: So far moving within the rising channel (the only brownie point is it being resilient during uncertain times)
9. #NIFTYENERGY: Looking at crude itself we know it is bullish in the short term
Nifty energy index too is under a bullish pattern formation (ascending triangle) no BO yet, though!
Nifty energy index too is under a bullish pattern formation (ascending triangle) no BO yet, though!
10. #NIFTYMIDCAP: 7800 levels will act as immediate resistance for now
Two demand zones plotted in the chart
Formation of LH-LL structure
Two demand zones plotted in the chart
Formation of LH-LL structure
11. #NIFTYSMLCAP: Erstwhile support now turned into resistance
Formation of LH-LL structure
Formation of LH-LL structure
Sectors like Metals & Energy, are still showing strength
Rest of the sectors are in clear LH-LL formation
Also Gold breaking out >2070 would mean some more near term pain in the equites for a while
Looks like no respite soon!
Rest of the sectors are in clear LH-LL formation
Also Gold breaking out >2070 would mean some more near term pain in the equites for a while
Looks like no respite soon!
Hope you discovered something new (because that's the point!)
If you did, share it with a friend
Hop back up to retweet the first tweet
See past threads here:
@AdityaTodmal
&
@niki_poojary
If you did, share it with a friend
Hop back up to retweet the first tweet
See past threads here:
@AdityaTodmal
&
@niki_poojary
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