Gap up opening selling observed from the beginning.
Positive. Still holds on to 20 period moving average in hourly time frame.
forms higher low still has not violated recent low and has not violated the center line of the channel.
closes just above the critical support shown in the chart.
Negative. forms bearish candle stick in weekly time frame.
Needs observation as iT sector is out preforming along with Nasdaq index of US.
Metal sector is in the lime light again with pharma index.
Hence my view is neutral.
If it violates recent high shown in the chart may touch the recent resistance shown in the chart.
And if it violates the recent low may fall to the next support zone.
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Positive. Still holds on to 20 period moving average in hourly time frame.
forms higher low still has not violated recent low and has not violated the center line of the channel.
closes just above the critical support shown in the chart.
Negative. forms bearish candle stick in weekly time frame.
Needs observation as iT sector is out preforming along with Nasdaq index of US.
Metal sector is in the lime light again with pharma index.
Hence my view is neutral.
If it violates recent high shown in the chart may touch the recent resistance shown in the chart.
And if it violates the recent low may fall to the next support zone.
Don't forget to like this post.
Follow me to get updates.
