Hindalco
ICICIBANK
Sensex
Explanation:
As mentioned on 2nd April (Sunday) Sensex did open a gap down on Monday and we did see an impulsive move down continued today taking Sensex below 17200. This wave down today looks like a start of minutte degree wave 3. Given the steep fall in US and European markes expect selling pressure to intensify further tomorrow.
DJIA is falling with rising US Dollar, steep rise in VIX, rise in Bond prices, steep fall in copper, silver, oil all pointing only in one direction!
We also said how badly complacency will be punished and that is what has started.Immediate target for Sensex now lies at around 16000 where it shall find some support before another leg down.
I have said in my previous blogs many times that the top outperformer - METALS will be the worse performer. The time has gone for bottom picking but using every rise to go SHORT.
DJIA is falling with rising US Dollar, steep rise in VIX, rise in Bond prices, steep fall in copper, silver, oil all pointing only in one direction!
We also said how badly complacency will be punished and that is what has started.Immediate target for Sensex now lies at around 16000 where it shall find some support before another leg down.
I have said in my previous blogs many times that the top outperformer - METALS will be the worse performer. The time has gone for bottom picking but using every rise to go SHORT.
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