Learn and Earn
On daily charts
Candle formation is Bearish Engulfing Pattern, but Indicators are still bullish, hence shorts initiate only on breaching of support range15620-565. The shorts if you initiate should be for very short term becouse net major supports are 15430-15300 & 15150-15050-14950 Below 14950 we can change our trend to bearish. Above 15800 we expect targets of 16000 to 16400 in short term.
Weekly charts
Looking strongly bullish, RSI 14 has just crossed 65 mark and on charts a bullish flag breakout is visible which indicates targets of 23600, but market never moves in straight line and it will move zigzag and test the target in coming years. Fibonacci indicates first target around 17300-700, so, use dips to accumulate good stocks. Keep stoploss below 14950 on weekly closing basis.
Monthly charts indicates initial targets of 18300 and next 20300. So, Just buy and believe on India Growth Story.
