A Full week of trading ahead.
Also expiry week for the September 2017 F&O series.
Also expiry week for the September 2017 F&O series.
Nifty50 has unfortunately started breaking down! All major signals are pointing to more downside in the coming days.
This week,
A very short term rally can happen.
BUYING for the medium/long term can be avoided for now.
No major positive signals till 10140 is crossed.
BUYING for the medium/long term can be avoided for now.
No major positive signals till 10140 is crossed.
SELLING (short selling) should be done below 9900.
What is the possibility that Nifty might take support at the 9950-9920 area?
It could, but for now it seems that this support might last for a very short time!
What is the possibility that Nifty might take support at the 9950-9920 area?
It could, but for now it seems that this support might last for a very short time!
Note : Sensex is mirroring Nifty. Sensex becomes more negative below 31500. No major positive signals till 32370 is crossed.
Bank Nifty has also started breaking down. Here also downside looks possible in the coming days.
This week,
A very short term rally can happen.
BUYING for the medium/long term can be avoided for now.
No major positive signals till 25000 is crossed.
Short term positive signals only above 24500.
BUYING for the medium/long term can be avoided for now.
No major positive signals till 25000 is crossed.
Short term positive signals only above 24500.
SELLING (short selling) should be done below 24300/23800.
Other Sectoral Indices -
NEGATIVE –
Energy (small rally possible) (best short sell- below 12850)
Realty (small rally possible) (best short sell- below 265)
FMCG (sell on rally) (best short sell- on rally to 25650, or below 25200)
Energy (small rally possible) (best short sell- below 12850)
Realty (small rally possible) (best short sell- below 265)
FMCG (sell on rally) (best short sell- on rally to 25650, or below 25200)
POSITIVE BUT NO SIGNALS –
Pharma (buying only above 9630)
IT (right in the middle of a range 10900-9920)
Auto (buying only above 11060)
Metal (small rally possible) (will turn negative below 3425)
Pharma (buying only above 9630)
IT (right in the middle of a range 10900-9920)
Auto (buying only above 11060)
Metal (small rally possible) (will turn negative below 3425)
Personal Notes:
How things change! Just last week, I was almost a bull!
And this week, the market has almost turned me into a bear!!
F&O expiry often brings with it all kinds of twists n turns.
Last week I was saved simply by sticking to trade confirmations and stop losses!
So, this week also I intend to stick to the trade plan.
Initially in the week volatility may fall just a little bit.
And this week, the market has almost turned me into a bear!!
F&O expiry often brings with it all kinds of twists n turns.
Last week I was saved simply by sticking to trade confirmations and stop losses!
So, this week also I intend to stick to the trade plan.
Initially in the week volatility may fall just a little bit.
But the larger picture says, Volatility is rising! Beware!!
Attention Please!
I HAVE BEEN GETTING A FEW QUERIES ABOUT HOW TO USE THE ANALYSIS POSTED HERE.
SO HERE'S HOW I USE IT -
MOST STOCKS WILL FOLLOW THE TREND OF THEIR SECTOR INDEX.
BUYING IS MOSTLY DONE IN STOCKS WHERE SECTOR INDEX IS POSITIVE.
SELLING IS MOSTLY DONE IN STOCKS WHERE SECTOR INDEX IS NEGATIVE.
I hope that makes it sufficiently clear what the purpose of this post is..
FROM THIS WEEK I HAVE ALSO STARTED POSTING THE BUY/ SELL LEVELS FOR EACH INDEX.
HOPEFULLY THIS WILL GIVE U A BETTER IDEA OF WHERE THE INDEX IS HEADED AND WHAT YOU SHOULD DO WITH A STOCK OF THAT SECTOR.
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