last week our view was that Nifty50 was in a no trade zone! And it turned out to be a good decision!
Here is the link to our market study last week -
https://marketwalas.blogspot.in/2017/04/learning-stocks-market-outlook-17417.html
Nifty50 is still in a no trade zone!
Short term SELL signals are getting activated.
For some time, Nifty50 can face resistance everytime it tries to move up!
No BUYING opportunities till Nifty50 retests 9000 n finds support there!
or till it takes out the recent high above 9270!
Strong short sell signals will come only below 8950!
Short term SELL possible below 9125 (Nifty50 has not fully broken down yet. So these will be short term trades. Advisable to keep volume low and stoploss strict!)
Note : Sensex is also showing signals similar to Nifty ... not yet completely negative! not very positive either!!
NiftyBank is still stuck in a trading range (21750-21300)
So till this range gets resolved, Nifty Bank is in a no trade area!
in the short term it looks tired also.
look for support to come in near 21200 before buying.
Nifty Bank can again be bought only above 21800!
Short term short sell signals will start to appear below 21350
No holidays this week.
Q4 results and F&O expiry are likely to cause volatility!
link to the results calender if you wish to check -
http://www.moneycontrol.com/markets/earnings/results-calendar/
Volatility is set to rise in the coming weeks!
So if you are taking options trades in individual stocks, please check volatility
readings!
The choice to buy Futures / shares is always there!
Sectoral Index view -
Nifty IT is down. Short sell on all rallies till 10600 is crossed on the upside!
but also be aware of sudden short covering rallies that could happen.
Nifty Energy looks like it has finished its up move for now and a period of
pause/correction has almost started!
Personal Note: Looks like only small short term trades (SELL as well as BUY) possible on the index for now!
For now, Looks like there could be lot more interest in stocks outside the index.
looking at mostly short/medium trades.
This is now definitely not an area to buy for the long term!!!
Here is the link to our market study last week -
https://marketwalas.blogspot.in/2017/04/learning-stocks-market-outlook-17417.html
Nifty50 is still in a no trade zone!
Short term SELL signals are getting activated.
For some time, Nifty50 can face resistance everytime it tries to move up!
No BUYING opportunities till Nifty50 retests 9000 n finds support there!
or till it takes out the recent high above 9270!
Strong short sell signals will come only below 8950!
Short term SELL possible below 9125 (Nifty50 has not fully broken down yet. So these will be short term trades. Advisable to keep volume low and stoploss strict!)
Note : Sensex is also showing signals similar to Nifty ... not yet completely negative! not very positive either!!
NiftyBank is still stuck in a trading range (21750-21300)
So till this range gets resolved, Nifty Bank is in a no trade area!
in the short term it looks tired also.
look for support to come in near 21200 before buying.
Nifty Bank can again be bought only above 21800!
Short term short sell signals will start to appear below 21350
No holidays this week.
Q4 results and F&O expiry are likely to cause volatility!
link to the results calender if you wish to check -
http://www.moneycontrol.com/markets/earnings/results-calendar/
Volatility is set to rise in the coming weeks!
So if you are taking options trades in individual stocks, please check volatility
readings!
The choice to buy Futures / shares is always there!
Sectoral Index view -
Nifty IT is down. Short sell on all rallies till 10600 is crossed on the upside!
but also be aware of sudden short covering rallies that could happen.
Nifty Energy looks like it has finished its up move for now and a period of
pause/correction has almost started!
Personal Note: Looks like only small short term trades (SELL as well as BUY) possible on the index for now!
For now, Looks like there could be lot more interest in stocks outside the index.
looking at mostly short/medium trades.
This is now definitely not an area to buy for the long term!!!
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