Please see the chart for the levels. You can go long in FMCG stocks like ITC, Britannia & Hindustan Uniliver for small stop losses.
Will be sharing the charts of ITC, Britannia and Hindustan Uniliver for more clarity
-Pharma sector yet to rally more upto 12000, 12900, 13500
-Also it is considered as defensive sector like IT
-Currently bank nifty weightage is decreasing and pharma is having only 3.2% weightage it can go upto 5-6%
Double bottom formed in reality sector.
W pattern or double bottom formed exactly near 0.5% retracement level
Same bottom formed in 2 times..
Very bullish sign. we can go long with same keeping same low as stop loss i.e 251.
Risk reward ratio is awesome here
In weekly, after a strong uptrend, head & shoulder pattern formed then price broke the neckline and pattern confirmed.
Bolinger band is in downtrend and price is pushing the lower BB downwards.
So we can see selling pressure in metal stocks like tatasteel, hindzinc, welcorp, hindalco, vedanta etc.
After the recent correction in feb and mar month, most of the sectoral indices showing hidden bullish divergences in weekly time frame. They are:
So we may expect a good recovery from the current dip and continuation of the medium term...