Market View - 4/7/17 to 7/7/17

First full week of a new f&o series and of July.

Nifty50 is still in correction mode but supports are looking like holding!
No signs yet that the upmove is ending.

Nifty50 will still need to go below 9530 to confirm this correction.
Also a move above 9660-9700 will confirm that this correction is over!

This week,
BUYING opportunities open up above 9700 only!
SELLING opprtunities open up if a rally fails to cross 9700.


Note : Sensex is also showing signals similar to Nifty.
           positive above 31400, negative below 31000



NiftyBank is still showing signs of weakness, but still not yet completely negative.
This index just refuses to go down!

This week,
buy signals will open above 23600
sell signals will open below 23000

till then I would wait and watch this index for a while.



Other Sectoral Indices -

POSITIVE - Metal, Auto, Pharma.

NEGATIVE - Energy.

POSITIVE BUT NO BUY SIGNALS - FMCG(beware, looking like a blow out), Realty

NEGATIVE BUT NO SELL SIGNALS - IT.



Personal Note:
Nifty keeps finding different sectors on the back of which it tries to keep going up!
Personally I would like Nifty to first give a clear buy/sell before jumping in sector trades.
Till then I think I will keep volume low.