Bear Market Rally -Where are we now?
Checked few key indices – it seems either this short term rally is over or we’re at a very crucial juncture, a small push and Humpty Dumpty would start coming down .
Today’s Fed meeting may give it final direction on either side.
In short, time to be very cautious. Cirrently all stock-set-ups are in danger zone.
Midcap Index – MACD in sell -mode, could not cross 61.8% of recent decline, at the brink of breaking the rising channel.
Smallcap Index – Triple top type of formation, could not cross 61.8% of recent decline, at the brink of breaking the rising channel.MACD yet to cross toward sell !
Realty Index – MACD in sell -mode, could not cross 61.8% of recent decline, at the brink of breaking the rising channel.
Nifty Pharma Index – MACD in sell -mode, could not cross 61.8% of very recent decline, breaken the rising channel.
Power Index – MACD in sell -mode, could noy cross 61.8% of recent decline, at the brink of breaking the rising channel.
In summary – time to be extremely cautios.
Disclaimer :Charts are for study purpose and to track the probabilities… They may or may not work.
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