Crowwd Strike!
It opened in euphoria, it stayed, then the claim this fall is not big, considering the rise we have, not to worry another historical opportunity to buy when the fall happens.
Wave 5 dynamics of new products, old euphoria ignoring the changing dynamics. The dark clouds appear at the time, when one tries to carry an umbrella which is absolutely no use.
The pip graph is attached, a shooting Star pattern, short of gravestone doji. Week close around 29 points in a week move of 350 points that is near 10%, 9 times the upper shadow.
Cues are negatives, Dollar bounces, risk on currencies have been sold vigorously. Our rupee finally comes out of clutches, past 83.50 looking towards the 86.00
Concerns on Bank Savings moving to speculation is not to be taken lightly.
23800 is the ideal move in this downside which remain the optimum target. That does not take away the big picture as of now. What is not seen or noticed is the rotation that is taking place in many places.
After very long time, bears find it easy to pick the levels than bulls.
Results season, price action for good results and bad results is another easy point to pick up.
Support 24430-24380-24330 (big trigger to the down side below 24000)
Resistance 24580-24620-24650
Wave 5 dynamics of new products, old euphoria ignoring the changing dynamics. The dark clouds appear at the time, when one tries to carry an umbrella which is absolutely no use.
The pip graph is attached, a shooting Star pattern, short of gravestone doji. Week close around 29 points in a week move of 350 points that is near 10%, 9 times the upper shadow.
Cues are negatives, Dollar bounces, risk on currencies have been sold vigorously. Our rupee finally comes out of clutches, past 83.50 looking towards the 86.00
Concerns on Bank Savings moving to speculation is not to be taken lightly.
23800 is the ideal move in this downside which remain the optimum target. That does not take away the big picture as of now. What is not seen or noticed is the rotation that is taking place in many places.
After very long time, bears find it easy to pick the levels than bulls.
Results season, price action for good results and bad results is another easy point to pick up.
Support 24430-24380-24330 (big trigger to the down side below 24000)
Resistance 24580-24620-24650
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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