- The chart is pretty self-explanatory. - If you look at the PE, It has come down substantially from about 100. - The crucial resistance zone is an important obstacle. A break and sustenance above it could mean further upmove. - Invest with caution as Investors are getting greedy post the bull run.
What are your thoughts? Leave us a comment.
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The price just made a bearish engulfing at the crucial resistance level on Weekly TF. Given that we saw a strong parabolic up move, a pullback is due. The low of the red candle may trigger a fall. (6540 - 6440 levels)
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It is either a retest or a false breakout. We will have to wait and watch.