We know our market is overheated and our market can correct a bit anytime.
Going ahead, Nifty IT, FMCG, Infra had rallied well. I'm not expecting a major move in these stocks and they are likely to be rangebound.
Nifty metal - looks weak.
Nifty pharma, media, PSU banks - need to breakout.
Sectors to focus on- REALTY ( broken out and more rally to come) AUTO...
TATA Motors - Long Target - Aug Expiry
Trading above 20 Days EMA one hour time frame
Support from RSI
Trendline breakout with volumes
less volume at current level on selling
Good consolidation at current levels near Fib 38% level
-NOT FINANCIAL ADVICE- also this is my first time posting so the draft might be a bit amateur. let's start-
The current trend should continue for the next 7-10 days barring a major Sell-off, hence we should testing the 58k fib level within August. There could be some sideways action at that level. Then 2 things could happen:-
Bullish projection- All time high...