MARKET

LOOK AT CHARTS ATTACHED. DAILY AS WELL AS WEEKLY CHARTS ARE ATTACHED.

OBSERVATIONS:

IN WEEKLY CHART TREND LINE WAS BROKEN ON MONDAY AND MKT HAS CLOSED BELOW TREND LINE.

IN WEEKLY CHARTS AFTER A LONG TIME LOWER TOP LOWER BOTTOM FORMATION IS SEEN.

IN DAILY CHARTS YESTERDAY'S LOW WAS AT CRITICAL SUPPORT ON TREND LINE RUNNING FROM BOTTOM OF 15652.

AS PER 1-2-3 PATTERN OUR STOP LOSS LEVEL IS AT 17488 

WHICH IS LAST BOTTOM MADE BEFORE LAST TOP OF  18048.

ON BREACH OF 17488 TREND WILL BE REVERSED.IT WILL BE A MARKET TO SELL ON RISE TILL WE SEE 

HIGHER BOTTOM HIGHER TOP FORMATION AGAIN.

LOOKING AT WEAKNESS IN GLOBAL MARKETS AND SGX NIFTY 

STOP LOSS OF 17488 MAY GET TRIGGERED ON MONDAY.

DEFENSIVE STOCKS LIKE HUL AND COLGATE ARE SHOWING BUYING INTEREST IN WEAK MARKET.