CNX CONSUMPTION has been out performing broader markets on the back of impulsive move that price has shown.
Following are the reasons for considering current rise an "Impulse"
1)Wave 2 has not retraced more then 61.8% wave A
2)Wave 2 has taken equal time as wave 1 took to form
3)No part of wave 3 has touched 0-2 trendline while its advance.(not shown...
If this index H & S breakout happen and sustain above neck line we show a big move in this below stock. watch below stock after index breakout.
Nifty Consumption INDEX
Alkem Laboratories Ltd.
Apollo Hospitals Enterprise Ltd.
Asian Paints Ltd.
Avenue Supermarts Ltd.
Bajaj Auto Ltd.
Berger Paints India Ltd.
Bharti Airtel Ltd.
Britannia Industries Ltd.
Colgate...
Stocks like Voltas, Havells, Marico, Bharti Airtel, Nestle, UBL, Asian Paints, ITC, Dabur, Titan United Spirits, Zeel, HUL, Colpal, Apollo Hospital etc are part of CNX Consumtion. CNX Consumption can give 5% upmove.
Views are for educational purpose only.
Please do your own research before entering any stock.
Nifty India Consumption had witnessed a 50% reversal from a Bearish AB=CD. Post which it is now getting very close to a Bearish Harmonic Alt Shark near 5240, the outer limit of this pattern tallies with the outer limit of the previous bearish pattern at 5270. If this pattern works out as expected then this last leg of rally could see some profit booking and retest...
