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.
