Just when we thought the momentum died off, Snap Chat's result triggers another round of down move. The bears are back on the saddle riding the NASDAQ down down down! I wouldn't be surprised if it touched around 9k in a few weeks.
Wipro seems to have completed a W-X-Y correction at its recent lows. Note that X wave is a triangle which is clearly evident. The subsequent upmove can be charted out as an 1-2 with waves 3-4-5 still awaited
A lot of the India IT stocks are headed up - see recent posts on Mindtree/TCS
Naukri had a great run from Rs 1600 in March. Its nearly 3.5X in less than a year. It seems an Inverse H&S is being formed. It should consolidate at the 4850 levels for a few days/weeks.
The Zomato story definitely has some link here. Coulds be that existing shareholders are selling to apply in the IPO. Nevertheless, it seem sit will consolidate at 4850 levels,...