More pain ahead. Financials to lead the fall.
After breaking the major trendline that connects the covid lows on 6th Jan weekly candle, it retested the polarity zone of 49800 and correcting again. Market correction cant end without a major correction in banking and financial stocks. Below 47800 we are heading towards 46000/44580/42000. As long term price structure is broken correction can be prolonged and bigger than expected. Expect at least 20% correction in BankNifty till end of 2025.
🔴Weekly RSI 40.25. Below 47800 RSI will be below 40.
🔴Global markets at ATH. Once they correct will add fuel to fire.
🔴20/50 WEMA broken. 200 WEMA may be tested before recovery.
🔴HDFCBank/ICICIBank on verge of breakdown. Weakness ahead.
🔴Weekly RSI 40.25. Below 47800 RSI will be below 40.
🔴Global markets at ATH. Once they correct will add fuel to fire.
🔴20/50 WEMA broken. 200 WEMA may be tested before recovery.
🔴HDFCBank/ICICIBank on verge of breakdown. Weakness ahead.
I am reachable on below social handles.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am reachable on below social handles.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.