#Bhartiartl in watch list. Probability of breaking down is higher. Point of distribution getting lower. Will wait and watch action around 540.
Nifty has been in consolidation making a wedge pattern on daily charts. VIX has increased by approx 4% suggesting that upcoming moves may be fast and furious in both directions. However, probability of market sustaining above 10400 is very low. Adding to that, the fear of second wave of Covid19, economic slowdown and deteriorating global economic conditions...
Volume divergence has been unfolding for last 2 weeks and it finally broke down below trendline with good volumes. it is below 200 SMA and all major indicators are showing divergence.