avsrikanth

avsrikanth

Dear Friends The recent corona virus outbreak is a great booster for the Pharma industry. But by how much ? Will all of us consumer medicines more everyday or only when we need it. For pharma to do well, people will have to be incrementally more unwell or Pharma industry should have more pricing power { which is not going be acceptable to governments }. Hence i...

avsrikanth

Dear All, Please watch the negative divergence developing on Hourly time frames. Readers may recollect the positive divergence since March that lead to a rally. Now a negative divergence can lead to a correction . A break below the ascending channel and a failed retest can resume the downtrend

avsrikanth

Dear all, Time to buy some FMCG companies like iTC and Colgate Palmolive. People will have to brush and smoke once the dust settles down Regards Srikanth

avsrikanth

If Bank Nifty breaks now, the RSI has to head to 40 levels. That is worrisome. As Bank Nifty will probably need another 10% downdraft.. Nifty coinciding with about 10000. Bank Nifty : Better not break the trend line now

avsrikanth

Self explanatory. We should see whether the pull back will bring Bank Nifty above the trendline.

avsrikanth

Will the bigger up wave start from here ? And proceed to its all time highs ?

avsrikanth

Friends, I hope the multi year trend line support doesn't get broken. Next week is critical and markets shouldn't go below 11000 for the trend to stay upwards. If the structure changes, then one day the March 6th 2017 gap up could be closed @9000 levels

avsrikanth

Quite likely we had started at-least an intermediate downtrend on Nasdaq. Monthly bearish engulfing candles don't give comfort . While i don't think the market has turned ultra bearish, as yet, the. trend possibly has changed for the medium term

avsrikanth

But for global instability the smallcaps have a long way to up to go up. Both in absolute and relative terms to Large Caps

avsrikanth Updated 

Hi Nifty Midcap is attempting yet another breakout of a strong channel that acted as resistance multiple times. The recovery here has been weak compared to LargeCaps and hence a breakout may be sold into. What happens thereafter is the key. If midcaps dont correct muach in the next wave of correction of Nifty, the set up is such that in the next rally, Midcaps...

avsrikanth Updated 

The breakout is ready of the downward sloping line will happen on Monday and retrace to atleast 8000 levels, 50% retracement of the fall

avsrikanth

If Sensex long term trend follows suit, we can expect a bear market to extend into 2022

avsrikanth

Will it find support at the flat line below = 12% or equal to the height of the triangle

avsrikanth

The Small Index which is causing a lot of grief

avsrikanth

That should take us to multi year support line that can be traced all the way back to 2015

avsrikanth Updated 

Sun Pharma is at a make or break at a critical support of 61.8% retracment of the bull run that started a decade back. One can take an investment exposure, with a 5% stop loss

avsrikanth

Dear All It looks like we are almost at the ned of the pain for small caps. I say almost because if this level brekas we may have another 10 to 15% of fall in small cap index and a 5% fall in NIfty to watch out for Regards Srikanth

avsrikanth Updated 

Were the small caps break the immediate support, another 25% fall can be expected. Its critical for them to go back above the trendline it is struggling to get past