Again a Full week of trading.
Result Season starts. Quarterly results to be declared this week given at the end of this page
Nifty50 is now in a range with a slightly negative bias.
That negative view will change above 9700.
A small correction is likely below 9650.
9660-9700 remain a strong resistance zone.
9550-9500 remains a strong support zone.
This week,
BUYING opportunities open up above 9700 only!
SELLING opprtunities open up below 9650.
Note : Sensex is also showing signals similar to Nifty.
positive above 31450, negative below 31200
NiftyBank is still very flat although it is a volatile index!. It is showing signs of weakness, but still not yet completely negative.
As mentioned last wek .. This index just refuses to go down!
This also week,
buy signals will open above 23600
sell signals will open below 23000
till then I would still wait and watch this index for a while.
Other Sectoral Indices -
POSITIVE - Energy, Realty (only for short term), Metal, Pharma.
NEGATIVE - IT (sell on rally)
POSITIVE BUT NO BUY SIGNALS - FMCG
NEGATIVE BUT NO SELL SIGNALS - Auto (short term buy)
Personal Note:
Looking at the sectors giving BUY signals, the soft signal on the Nifty is a breakout on the upside!
Volatility index looks set to fall again. Will it again give way to a rally? I think this week will tell..
Result Season starts. Quarterly results to be declared this week given at the end of this page
Nifty50 is now in a range with a slightly negative bias.
That negative view will change above 9700.
A small correction is likely below 9650.
9660-9700 remain a strong resistance zone.
9550-9500 remains a strong support zone.
This week,
BUYING opportunities open up above 9700 only!
SELLING opprtunities open up below 9650.
Note : Sensex is also showing signals similar to Nifty.
positive above 31450, negative below 31200
NiftyBank is still very flat although it is a volatile index!. It is showing signs of weakness, but still not yet completely negative.
As mentioned last wek .. This index just refuses to go down!
This also week,
buy signals will open above 23600
sell signals will open below 23000
till then I would still wait and watch this index for a while.
Other Sectoral Indices -
POSITIVE - Energy, Realty (only for short term), Metal, Pharma.
NEGATIVE - IT (sell on rally)
POSITIVE BUT NO BUY SIGNALS - FMCG
NEGATIVE BUT NO SELL SIGNALS - Auto (short term buy)
Personal Note:
Looking at the sectors giving BUY signals, the soft signal on the Nifty is a breakout on the upside!
Volatility index looks set to fall again. Will it again give way to a rally? I think this week will tell..
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