Attached: BSE Capital Goods/ BSE Sensex Daily Chart as of 13th April 2023
The Ratio Chart has given Warning Signals of what is about to come for the Capital Goods Sector, the Warning Signals are as follows:
1) A Broadening Wedge Pattern (see the Blue Trend Lines marking the Pattern)
2) A Double Top formation within the Broadening Wedge Pattern (see the Red Curve...
Bearish Harmonic Bat Pattern along with Double Top in weekly chart for Capital Goods Index, can move down for correction. Levels mentioned in the chart.
Straight Double Top Bearish Pattern on Capital Goods Index - Note this is on weekly timeframe
SL for shorts mentioned
All targets on the chart
Expect downside correction of 10 to 20 % over next 5 to 8 weeks
The index consists of 25 stocks - 8 FnO Stocks & 17 Cash Stocks. Constituents are -
ABB India Ltd
AIA Engineering Ltd
Bharat Electronics Ltd
...
* 14 Years Consolidations breakout in S & P CAPITAL GOOD INDEX . So focus this index stock chart . Later i will update all stock chart belong from this INDEX.
