The technical highlights and chart patterns of this week’s market action are the following:

• The risk level remained high despite the expected quarterly earnings and undervalued state of the market
• Market Phases on key NSE Indexes are all bullish with ADX running positive and strong
• High Caps and Growth stocks are taking center stage
• Volume patterns improved across the board
• Banking, Telecoms and Agribusiness are surging
• Market Internals are running rich
• Investdata sentiment report revealed mixed, while RSI and MFI broke out to show potential overbought situation.   

Chart Patterns to watch in the new week

NSEASI Chart

May & Baker

Eterna

11 PLC

Sterling Bank

BUA Cement

Wapco