Macro micro trader

Nifty Pharma (Monthly chart): Monthly chart of Pharma index shows some signs of petering off, although not topped out yet.

Nifty PSU Bank (Monthly Chart): I had mentioned in the past about the possibility of PSU Bank index topping out around that supply zone. It has reacted exactly there along with forming a double top.

Nifty PSU Bank (Weekly chart): Zooming out a bit and we see evening star at the supply zone followed by inverse hammer. This week is crucial as the follow through of previous two weeks would result into the PSU Bank index falling even more.

Nifty PSU Bank (Hourly chart): Hourly chart of the Nifty PSU Bank index has formed bearish head and shoulders and is close enough to break down of the neckline.

Nifty oil and gas (Daily Chart): Oil and Gas index of Nifty has broken down of a long term channel and has backtested too. Any reversal from here would be catastrophic.

HDFC AMC (Weekly chart): Weekly chart of HDFC AMC has broken out of a 3-years long falling wedge and is bullish for the next few months. Although I would wait for sustenance of this breakout before indulging big time into this.

ICICI Prudential Life (Daily chart): ICICI Pru Life, on the other hand has broken down of a year long channel is sitting right underneath of this channel and sitting right above 200 MA. Expect some chop around this zone before decisive action on the downside.