As Friday I wrote on this Blog, Gave the Chart as below.
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Second alternative happened and Nifty can't able to cross 5755, instead came down and touched 5677.
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So what's Next..???
Now Nifty seems to be undergoing sub wave ii. As of C should end near 5680 or 5650 level to bounce back for a Bullish upmove.
So what else if it breaks 5650 also...there may be a Negative outlook also
Alternative (Bearish) Out look for Nifty:-
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Next week if Nifty breaks 5650 as marked on chart, then we shall see another 100 Point fall from 5650 as the Scenario may get changed as Nifty still on Wave 4. The Break out happened on 02nd Nov shall become a False and Tricky. In that case Nifty may touch the bottom line of the channel as shown on chart.
Weekly Stocks:-
After a dis-appointing Results from SBI and Tata Steel - Lets see how these two stocks are Poised in coming sessions.
SBI :-
State Bank Fell on Friday after the Bank Said its NPA gone up by 5.15% from 4.19% as the Loans from KFA, Air India Ltd and DCHL has been kept as Provisional. So what does Technical Says
>Click the Chart to see on full screen<
Chart shows a Bullish Scenario as off now. It seems the fall on friday - Ongoing sub wave ii as a consolidation, and if able to hold 2138-40 stock may turn around for an Upmove in coming days.
TATA STEEL :-
Tata Steel fell 3.32 percent on Friday after reporting a surprise quarterly loss of 3.64 billion rupees as weakening demand and prices in its main European market offset a solid performance at home.
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Pattern in Hourly chart of Tata Steel seems like a Head and Shoulder. If the Low of Friday or 386 breaks with Volume - a good fall to 377 and 364 or even lower levels soon.
Performance :-
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