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Nifty Media Index Could Fall Another 25%Nifty Media has failed to gain any meaningful traction over the last month and is now breaking down from its short-term bear flag. If prices are below their recent highs of 1,205 on an absolute basis, then we’d expect a retest of the lows near 971 and an eventual break to new lows that targets 830 over the coming 6-8 weeks. We’re not here to catch falling knives or be right about calling a top or bottom, we’re here to make money. And we do that by riding the strongest trends as long as they’re intact, which in this case it most certainly is.
NSE:CNXMEDIA
by AllstarchartsINDIA
New Relative Lows In Nifty PSU BanksIn addition to Nifty PSU Banks breaking down to new all-time lows on an absolute basis, we're also seeing new all-time lows relative to the Nifty 100. This trend of underperformance has accelerated and unlikely to continue this steep pace for the long-term, but there's no reason to be looking for a reversal just yet. We’re not here to catch falling knives or be right about calling a top or bottom, we’re here to make money. And we do that by riding the strongest trends as long as they’re intact, which in this case it most certainly is.
NSE:CNXPSUBANK
by AllstarchartsINDIA
Further Downside Ahead For NIFTY PSU BanksHere’s the leader of the weakest stocks, Nifty PSU Banks, breaking down to new all-time lows on an absolute basis. When bullish momentum divergences fail to spark any sort of upside traction, that shows that sellers are remaining aggressive even at lower prices and that the downtrend remains firmly intact. If prices are below their recent lows of 1,220 then we’re looking for further downside towards 1,025. We’re not here to catch falling knives or be right about calling a top or bottom, we’re here to make money. And we do that by riding the strongest trends as long as they’re intact, which in this case it most certainly is.
NSE:CNXPSUBANK
by AllstarchartsINDIA
Gold Spot / USD Dollar(Gold Shining Fading in May)?Gold Spot / USD Dollar (Gold Shining Fading in May) (Gold “The Light Had Faded and Dusk was Advancing) • Gold Spot The Shining of Gold is Fading now means the Light had Started Fading now and Dusk was Advancing in Gold Slowly in the start of Month of May and Will Continuous will go for entire Current Month • Three Time Gold Tried for New Break out from the upper Channel but Unable to do the same • Continuous Rise in the Upper Channel • Volumes Started Decreasing • Momentum also Decreased in the last 10 Sessions • Let See If Equity will Rise Subject to if Slowly Lock downs Will Start Releasing the effect will see on Gold on Negative Side • If Lock downs Opens Slowly then Economy and Industries will rise which will impact Gold Negatively and His Shine will start fading off • Let See? (Finally if you liked the Idea pls provide likes and comments and pls provide suggestion if you something dont like about the idea )
OANDA:XAUUSDEducation
by Ashhish-Chhabra
Money Flowing Bank Into Nifty Financial ServicesIn this chart of the Nifty Financial Services Index vs Nifty 100 ratio, we see a bullish momentum divergence as prices stabilize above a confluence of support. Prices staying above their recent lows signals outperformance is likely from this sector of the market, at least in the near-term while money flows out of areas that have run a lot like Nifty Pharma and Nifty Fast Moving Consumer Goods. Strength in Financial Services will be a tailwind for the Nifty 50 and broader indices given it's the largest sector weighting at ~33%. Our Nifty Pharma and Bank stock ideas related to this thesis are below in the "related ideas" section.
NSE:CNXFINANCE
by AllstarchartsINDIA