Week going ahead
Welcome to the Weekly update on the Indian Financial and Capital markets: 1. The leading indices failed to sustain a weekly close above the previous swing high of 10,137. A divergence was seen between the frontline 2 indices where Nifty only went ahead to make fresh new all time highs whereas the Sensex failed to breach its previous swing high level. On Friday the Nifty and the Bank Nifty both made a Bearish engulfing candle on both daily and weekly time frames which is considered very bearish in technical terms. More information on Bearish Engulfing candle can be found on the below mentioned link: http://www.investopedia.com/terms/b/bearishengulfingp.asp Going ahead more pain can be witnessed on the frontline indices and in the mid cap and small cap spaces. A breach of the previous swing low of 9688 can take the Nifty to even lower levels between the range of 9440-9460. 2. Crude Update – Crude has given...