is taking a support at ~387 thought difficult to get a actual support line. But based on the chart this was a Resistance level
and now is acting as support. For the short term the tops are getting lower and lower. The wedge
formation has to end. the wedge
started with a upward move hence it should move up once the wedge
is over. Also rising oil
prices is keeping this sector under pressure. BSVI fuel subsidy /incentive if announced for the oil
companies we can see a upward to 450 levels.