SP500 Index- Nifty / Stock-ITC/Hindalco/Auropharma- Weekly Check

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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SP500 Index - A possible top close to 3200 levels - Reasons for Top or Halting close to 3200

• Wave Y = 61.8% of Wave -W
  
  Middle Line of Parallel Channel is close to 3200 levels
  
  Support / Hero turning their roles into Resistance / Villain - Polarity Reversal Concept close to 3200 levels
  

Index- Nifty
Nifty May Halt with Double Top at 10175 / Below 10175 for 10050 / Below 10050 for 9950 / More below 9950

Stock -ITC
Sell Below below 200 (strictly) for 195-196 / Below 195 for 190 / Below 190 for 185-186

Stock - Hindalco
Selling below 150-151 (Strict Stops above 151) Target -148 / 145.50 / 143 / 138 / 130-132

Stock - Auropharma
Selling next below 721 for Target 700 & Below 700 for 650-660 zone

Trade active:

21:58 Hrs / 6th June 2020

Stock - SAIL

It is sheer impossible for doing all stock analysis but still, have tried for SAIl because one colleague has been asking about SAIL analysis on a couple of previous ideas done earlier & repeated his request

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34/35 could be possible resistance with Bearish Butterfly Harmonic Pattern. If crosses above 35 - Butterfly patterns are tricky as 127% can even extend upside to 161.8% which comes close to 36/37 levels. Trading Strategy shall be selling strictly below 34 levels for target -30 & lower targets if slips below 30 later.