Market Status:
Market Status is still Bearish and expected to enter into more aggressive zone.
On the weekly scale, it is showing sharp weakening. On the daily scale, it has already indicated sharper move next week. Notice the last 2 day’s price action marked by red dots. The red body size has sharply increased.
If NIFTY Breaks line #3, we might see NIFTY moving towards 4600 (Line #4) in the coming weeks.
Now on DOW: It has turned bearish too. As you can see from the weekly chart attached, It has nearly touched line 3, of the equidistant parallel channel and stated moving towards Line #2.
Bullish Stock to watch: Amtek Auto Ltd, Amtek Auto Ltd, Empee Distilleries Limited, Maxwell Apparel Ind. Ltd., Motherson Sumi Systems Ltd, Onward Technologies Ltd, Shree Cements Ltd, Smartlink Network Systems Limited, Ambuja Cements Ltd. Out of these I like Ambuja Cements Ltd. The chart of which is given below.
Bearish Stocks to Watch: Adani Power Limited, The Dhampur Sugar Mills Ltd, Hcl Technologies Ltd, Infosys Technologies Ltd, Jyothy Laboratories Limitd, Wockhardt Ltd
