Edited fragments from a chat:
Nifty broke his 3-week winning series like a weakening dollar, Trump’s pharmaceutical rate and the H-1B Visa Fee Hike weighed on sentiment. How should you trade in the new series in the new series?October has generally been a positive month for Nifty, with a win in 70% of the last ten years. However, the past two years have seen a negative return. The turns lower from mid-July highlights, which now extends to seven consecutive sessions, is similar to the Berenrun of September 2024-2025.
A soft VIX and Stochastics approaching Oversolde Zones suggest a potential turn higher, or aside early next week, considering Nifty, since Nifty is the 78.6% Fibonacci -Retracement of the 29 August -18 Sep Upmove. However, the recent systematic decline has created resistors that limit the upward potential in the coming week.
Nifty it fell around 8%last week. Do you expect a bounce or more disadvantage in IT shares?
The Nifty IT index, as expected, did not succeed in breaking above trend line resistance at 39,075. The subsequent pullback pushed the index back into a negative process, with a several-week support break and a bearish Marubozu candles that amplified the downward trend.
From the perspective of a derivatives, almost 80% of the Montige and out-of-the-money call strikes saw short structure, which strengthened the Bearish front views. With heavyweights such as TCS, Infosys, HCLTech, Wipro and Tech Mahindra who approach transmitted zones, a short -term storage to 34,160–34,750 is possible. Bears, however, will probably regroup and extend a disadvantage to 33,080 and possibly even the low point of 31,100 April.
Tata Investment Corporation shares finished the week higher in the midst of heavy volumes. What do graphs indicate?
Tata Investment is in a trending phase and retains upside down despite the decline of the wider market. Follow -up patterns support this display. Fibonacci Extension projects 10,400 as the target in the medium term. On 8,890, however, the share probably exhausted potential in the short term. The disadvantages of 8,450 or 8,200 can act as markers.
Trump’s 100% pharmaceutical rate is a pain. Can Wockhardt and Laurus Labs see further problems?
Laurus Labs has probably formed a topping pattern before the sharp fall of Friday, which indicates an extensive downward trend. Wockhardt is stuck in wide consolidation, although the fall began from the peak of the month. Both shares broke under lower Bollinger tires, which could cause attractive withdrawal trade. Expect wider trading ranges ahead.
Top ideas for the coming week:
Tatamotors (CMP: 672)
View: buy
Goal: 695
SL: 658
After a drop of a week, the stock has formed a double doji pattern for two sessions, which indicates it. MACD diversity indicates exhaustion at lower levels. In the short term, the stock could move to 695, with Stop-Loss at 658.
VTL (CMP: 417)
View: buy
Goal: 432
SL: 407
After a one -week pullback, the stock has formed a bullish pinbar doji on the daily card, which indicates early reversing signs. On the hourly table the price above both super trend and trendline resistance is broken, which enhances a bullish prospect. Expected upside down to 432; Keep Stop-Loss at 407.
(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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