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Sunday, October 02, 2022

Weekly Review - 03rd Oct 2022

 Dear All,


> NIFTY Hourly Chart <

Entire Week was really tuff, as the Indices drops with +ve Divergence till Thursday Expiry. Might be to Squeeze the Option Premium. 


Friday Low 16750 might be a bottom as there is lot of changes in OI. A good upmove expected if the global cues support. 

> Nifty 5 Min Chart <


On 5 Min Chart, there is a Probability of hitting the lower channel for abc consolidation on the downside. Key Support 17060 / 17000 / 16970 must hold to valid this analysis. Else it may negate or Nifty may dip lower also.

Note :- there are many more alternatives at present, discussed above is one among them.

> Bank Nifty Chart <


Bank Nifty has many alternatives and given here is a Bullish Scenario, hence key Resistance @ 39000 & 39600 must test and cross above for further rally. In between lot of consolidation possible.

> PHARMA Daily Chart <


Pharma Index has given a Flag Pattern Break out, Hence a 1000 Pts Rally possible soon. Watch below given Pharma Stocks.

> GLENMARK Weekly Chart <


Glenmark is Waiting to Explode if the above Key Resistance get Crossed, a Well beaten down Pharm stock. 

> NIFTY IT Index - Hourly Chart <


Have discussed about IT Index and Stocks few days before. Possibly may break out this week to support NIFTY to rally. Have advised INFY also. Given below.

> INFY - Hourly Chart <


Holding Long. Watch Support & Resistance.




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