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:
small cap
mid cap
realty
energy
commodity
consumption
service
So we may expect a good recovery from the current dip and continuation of the medium term uptrend.
