I deliberately have posted ONLY WEEKLY @ Medium term charts because hourly/ daily charts will create a Lot of Noise and Cause confusion/Panic amongst the Community ......
-can see cup and handle formation on charts one way target if breaks would be 5%
-feds stance will act as a trigger (break out or breakdown)
-2nd opinion even if trendline is breaken the minimum target would be 5% acc to some books on tech analysis.
Index have historical resistance around 1186-11230 range , where index have made top and reversed , so if same resistance levels is respected , index will give sharp fall of 600-800 points fall from resistance zone.
view gets negated above 11250 on daily closing basis
keep watch index is at resistance juncture..
Nasdaq index is in bounce mode taking support 02nd time near 10290. It may test 10850 and 11111 soon.
Bullish Divergence seen on chart. Indian It stock also can bounce
Nasdaq on day chart has formed Head and shoulder pattern and may fall very fast in case of bad news..... the Stop loss will be 9/20 High in case of trend reversal. Hope this doesnt happen.
On weekly there is inverted cup and handle pattern forming.
I wish it doesnt fall so much.
