Market Outlook for August 1st Week l Stock Watch Ep. 09 (Season 2) l Yagnesh Patel
In this video Yagnesh Patel Discussed about Indian market for next week. Weather market going to crashed?
A very overbought market on a higher time frame, monthly chart. So, from the perspective of monthly chart, we can see overbought. We can see reversal pattern in weekly. Daily, we are already seeing reactions, we can see confirmations. Indecisive candles have low break, momentum is losing, divergence is creating.
51,800 to 52,000 is a very strong resistance zone. You can see here that there are rejections. Gap down opening is still a rejection. Importantly, if I place a moving average of 20 days here, then it is also giving resistance.
If we pay attention to the chart structure, then you can see very importantly that an important high was made here and there is a bearish engulfing pattern also formed here. which I had asked in my video earlier. So this is a bearish engulfing. After that, we saw that there was a little jerk in the market, there was a reaction on the downside and then an upside momentum was seen.
0:00 Introduction
1:05 Nifty Analysis
3:58 FII-DII Data Analysis
6:20 Nifty Levels
7:40 Bank Nifty Analysis
9:37 IRFC Stock Analysis
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