NIFTY :FROM THE TOP HAVE CORRECTED NEARLY 10% , WE HAD ALMOST SIMILAR KIND OF SELLING PRESSURE OF AROUND 16% OCT 2021 TO JUNE 2023 . CURRENTLY WE CAN SEE ON THE WEEKLY TIME FRAME THE NIFTY MAY TAKE SUPPORT AT THE TREND LINE , AND WE MAY GET SMALL PULL BACK , BUT WILL THAT PULL BACK LAST ONLY TIME CAN SAY .
RSI INDICATOR HAS SHOWN THE WEAKNESS BY CROSSING BELOW THE EMA , BUT ONLY TWO INDICATION ARE IN BULLISH SIDE IS , RSI IS ABOVE THE BAND AND THE TREND IS STILL BLUE , SHOWS THAT THE BUYERS ARE STILL IN CONTROL IN HIGHER TIME FRAME BASES .
BANK NIFTY : FROM THE ABOVE CHART LOOKS STRONGER THEN NIFTY , THERE CAN BE A PULLBACK IN BANKNIFTY IN COMING WEEKS , BUT THE RSI TREND HAS CFOSS BELOW THE EMA , GOOD THING IS ITS STILL ABOVE THE BAND , AND THE BUYERS STILL LOOKS IN CONTROL ON LONGER TERM .
IF THE BANKNIFTY GIVES A BOUNCE BACK , THERE ARE CHNACES IT MAY NOT LAST FOR LONG .
NIFTY AUTO : ON WEEKLY TIME FRAME , AUTO SECTOR HAS TOUCHED THE TREND LINE , BUT IMPORTANT THING IS TO SEE THAT , WE HAVE CROSS OVER OF EMA , SHOWING STRONG WEAKNESS IN THE TREND , ALONG WITH RSI CROSSING THE EMA TOO . IF THERE IS BOUNCE BACK IN THE SECTOR , I WOULD CONSIDER SELL ON RISE AND WONT BE GET BULLISH IN THIS SECTOR FOR SOME TIME .
NIFTY INFRA : INFRA SEEMS TO TAKING CONTROL NEAR THE TREND LINE , EVEN RSI HAS MANAGED TO STAY ABOVE THE EMA SHOWING STRENGTH IN THE SECTOR .
OVER WE CAN SE WITH THE BLUE THICKNESS , SHOWING THAT BUYERS IN STRONG CONTROL OVER THIS SECTOR . IF BUYING COMES BACK , ONE CAN LOOK IN TO THIS SECTOR AND FIND SOME PROMISING STOCKS .
NIFTY FMCG : FMCG SECTOR HAVE LOST ITS STRENGTH , WITH STRONG CO. WITH LARGET MARKETCAP SAW DECANT AMOUNT OF PROFIT BOOKING .
CURRENTLY THE SECTOR HAS COME TO THE SUPPORT LEVEL , BUT RSI HAS GONE BELOW OUR EMA AND ALMOST READY TO INSIDE THE BAND . IF THE SECTOR BOUNCE BACK , ITS TIME TO SELL ON RISE , AND NOT BUY ON DEEPS .
NIFTY IT : IT SECTOR LOOKS ONE OF THE PROMISING SECTOR EVEN IN THIS SELLING PRESSURE MARKET . RESISTANCE HAS TURNED TO SUPPORT WHICH COULD BE CLEARLY SEEN IN THE CURRENT WEEK PULLBACK . IF MARKET GIVEN 50% RECOVERY OF LAST SELLING PRESSURE , IT SECTOR IS WHAT WE WANT TO KEEP AN EYE .
RSI CLEARY SHOWING THE STRENGTH AND BUYERS ARE TOTAL IN CONTROL .
NIFTY MEDIA : THIS SECTOR HAS NOTHING AT ALL , I WOULD TOTALLY AVOID THE SECTOR , FROM 2021 THE SECTO HAS DONE NOTHING . IF ANY STOCK MOVEMENT , I WOULD NOT BE INTERESTED .
NIFTY METAL : THE SECTOR IS UNDER CONSOLIDATION , BUT THE MAJOR SECTOR IS UNDER PRESSURE , ANY FUTURE SELLING PRESSURE CAN GET MENTAL INDEX IN TO SELLING ZONE . RSI IS ALREADY SHOWING SLOWING DOWN AND SELLERS ARE TAKING OVER .
ONE MUST STAY AWAY FROM THIS SECTOR AND WAIT FOR CLEAR INDICATION .
NIFTY PHARMA : ANOTHER SECTOR TO LOOKS AFTER IS PHARMA .
THE SECTOR WAS LOOKING REALLY STRONG , BUT NIFTY PULLED IT DOWN .
THE SECTOR IS TRYING TO TEST 21 EMA , IF MAREKT RECOVERS FROM HERE , PHAMRA CAN CONTINUE THE OLD DIRECTION .
NIFTY PSU BANK : THE SECTOR CAME INTO FOCUS AFTER THE ELECTION RESULTS , EVEN AFTER DECENT RESULTS THE SECTOR IS NOT ABLE TO GET THE GRIP .
CURRENTLY IT LOOKS UNDER STRONG PRESSURE , BUT ITS STILL ABOVE MY OVER ALL TREND BAND , THERE ARE STRONG CHNACE THAT IT TAKE A SUPPORT FROM THE BAND , AND THERE CAN BE A STRONG RALLY BACK UP SIDE .
I WILL KEEP A STRONG EYE ON THIS SECTOR UNTILL IT CLOSES BELOW THE BAND ON WEEKLY BASES .
NIFTY REALTY : A CLASIC EXAMPLE , HOW A SECTOR TURNS WEAK FROM A STRONG TREND . CURRENT TREND CLEARLY SAYS THAT THERE ARE HUGE CHANGES FOR THIS SECTOR GET MORE WEAK IN COMING DAYS/MONTHS . I WOULD STAY AWAY FROM THIS SECTOR UNTIL THE SUPPORT IS BEEN TESTED .
NIFTY PVT. BANK : PVT. BANK SECTOR IS MOVING IN TEXT BOOK UPTREND CHANNEL .THIS SECTOR IS NOT ABLE TO PICK UP SOME PACE , AND HAS BEEN STRUGGLING EVEN IN THIS TREND . IT HAS REACH THE LOWER TRNED LINE OF THE CHANNEL , THERE ARE CHANCS FOR THE SECTOR TO TAKE SUPPORT AND TRY AND CATCH THE UPPER BAND AGAIN , AND GIVE A STRONG BREAKOUT AND WE CAN SE A NEW STRONG RALLY IN THE SECTOR . WILL WAIT FOR ANOTHER WEEK TO SEE , IF THE BUYING COMES BACK ..
NIFTY HEALTHCARE : THIS SECTOR IS ANOTER WHICH I HAVE IT ON MY RADAR AFTER PHARMA AND IT SECTOR .
THE SECTOR LOOKS PROMISING NAD HAS NOT GOT WEAK COMPARED TO THE NIFTY WEAKNESS , ANY KIND OF SUPPORT FROM THE MARKETS WILL SET THE NEW RALLY TONE IN THIS SECTOR AGAIN .
NIFTY OIL AND GAS : THIS SECTOR HAS SEEN SHARP SELLING PRESSURE , WITH NEARLY 20% SELLING FROM THE TOP . IT HAS UNDER PERFORMED THE NIFTY , WHICH IS NOT A GOOD SIGN AND WE ALSO SEE RSI IS TRYING TO ENTER THE BAND , ALONG WITH SELLERS TAKING CONTROL . THE ONLY HOPE IS , IT HAS COME TO THE SUPPORT AREA AND NEAR OUT UPTREND BAND . I WILL NOT TAKE ANY TRADE IN ANY OF THE STOCKS IN THIS SECTOR AND WAIT FOR REVERSAL OR NEW DIRECTION , WHICH WE WILL COME TO KNOW ONLY AFTER FEW WEEKS . DISC** THE ABOVE ANALYSIS IS ONLY FOR THE OBSERVATION , IT DOES NOT CONTAIN ANY BUY/SELL RECOMDATION , THE DATA IS BEEN COLLECTED FROM MULTILPLE WEBSITE AND JOINT TO MAKE A SINGLE REPORT . I PERSONALLY HAVE NOT COLLECTED ANY DATA PERSONALLY , ANY ILLUSTRATION OR TEXT DOES NOT GIVE ANY KIND OF ACTIONABLE ADVICE OR TIP OR ADVICE , I AM NOT SEBI REGISTERED ANALYSIST , ANY ACTION PLEASE TAKE ADVICE FROM YOUR FINANCIAL ADVISOR . NO OUT COME WILL STAND IN ANY KIND OF LAW OR LEAGAL VIEW IN INDIA OR ABROAD
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