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NIFTY FINANCIAL INDEXAt the PRZ of a bearish Harmonic Bat in Weekly time frame it made a bearish reversal Candlestick today. A follow through tomorrow onwards would confirm a downward move for 13250 and below that for 12000. The view would negate if it sustains above today's high. The index constitutes of all the large Banks and large Finance companies. Harmonic Bat is a 5 points pattern based on specific Fibonacci Ratios which signal a reversal of trend for 38-50-62% of the last leg of the trend ending.
NSE:CNXFINANCEEducation
by Dinesh_C_Nagpal
2
BAJAJ FINANCE - Extending the Pain..!BAJAJ FINANCE , amongst the favorite counters to initiate a trade on the long side is seeing a different scenario now. With the 21-day lockdown, consumption has slowed down considerably, and discretionary buying is out of sight. With the economy now slowing down even further, the earlier growth rate is hard to achieve.The stock is having one of the most challenging phase and the bearishness is expected to continue lower as can be seen from the descending triangle breakdown that has emerged on Friday. The break has been with a long body candle beyond the support region. Further the momentum setup is indicating a resumption of bearish momentum highlighting the intensity of decline.
NSE:BAJFINANCEShort
by Raja_Chart_Advise