There will be no updates till the 5th - unless there are some significant moves in the markets
The weekly charts of Hero Honda shows the obvious resistance at 2100. After failing to clear this level for the third time, the stock has plunged below the previous support. A normal measured move for the above kind of price action would be a move to somewhere around 1100 (the width of the previous price band). If you are an Elliot Wave fan, one can also count clear 5 waves to the highs and the current move is probably C leg or wave 3 to the downside.
So unless there is an immediate reversal with volumes, this might be just the beginning of a bigger fall for the stock. The stock is oversold in the short-term and may see a bounce to 1700's.
Let the charts do the talking.
The key banking index:
As can be seen from the above charts, the climb up for gold has been loosing lustre, at least for the intermediate term. Each successive peak has been on declining momentum.
As one should expect the picture is similar for silver, double negative divergence just as in Gold. Also both these precious metals made new intraday highs only to be repelled lower and rejected by the market - a bearish outside day formation.
The CRB index has also formed a bearish outside day right the previous swing high and thereby raising the possibility of a double top formation.
A shooting star pattern is visible on Nymex crude. The momentum here too has been diverging negatively with the price peaks.
A look at the charts of the Dollar Index, shows that the Index has probably resumed its uptrend after a 3 day corrective decline. The index is bouncing from its first fibonacci retracement level. Over next 4-6 weeks a level of 85 is the price objective for this currency basket.
Barring an immediate reversal in the above markets( though not impossible), one should expect the negatives to start trickling into equity markets.