Market View - 18/9/17 to 22/9/17

A Full week of trading.

Result Season is over.

Nifty50 ... has almost broken out of a range.

This week,

BUYING can be done above 10120.

No reason to worry till 9950 breaks.

 Note : Sensex is almost mirroring Nifty. Sensex now has developed lots of supports between 32000-31500.

Bank Nifty has also almost broken out of a range.

This week,

Buy signals above 25000/25200.

Supports have developed near 24500. So no reason to worry till that level breaks.

Other Sectoral Indices -

POSITIVE –  Pharma, IT (right in the middle of a trend, currently positive)

                       Auto

NEGATIVE –

POSITIVE BUT NO BUY SIGNALS – Energy (small rally possible)

                                                                 Realty (small rally possible)

                                                                 Metal (small rally possible).

NEGATIVE BUT NO SELL SIGNALS -  FMCG (small rally possible)

Personal Notes:

Last week’s breakout seems to have tilted the tide in favour of the bulls!

Positional trades on the long side could be possible now.

Volatility can rise in the start of the week but is under control.