Market view - 3/10/17 to 6/10/17

A 4 day trading week ahead.

First week of the October 2017 F&O series.

Nifty50 is weak but not completely broken down yet. Most major signals are still pointing to more downside in the coming days.

This week,

BUYING for the medium/long term can be avoided for now. 

No major positive signals till 9950/10140 is crossed.

SELLING (short selling) can continue below 9680 or if a rally fails near 9900/9950.

Note : Sensex is slightly weaker than Nifty. Selling in Sensex can continue below 31200. No major positive signals till 31550 is crossed.

Bank Nifty is also weak but not completely broken down yet. Here also more downside looks possible in the coming days.

This week,

BUYING for the medium/long term can be avoided for now.

No major positive signals till 24500 is crossed.

SELLING (short selling) can continue below 23800 or if a rally fails near 24500.

Other Sectoral Indices -

    

NEGATIVE – 

Energy (best short sell- below 12850/12750)

Realty (best short sell- below 265 ... short term positive above 275)

FMCG (sell on rally)  (short sell continues below 25200) 

POSITIVE BUT NO SIGNALS – 

Pharma (buying only above 9630 .. more negative below 8730)

IT (right in the middle of a range 10900-9920)

Auto (buying only above 10900/11060 .. turns negative below 10500)

Metal (will turn negative below 3500/3425 .. buying only above 3675)

Personal Notes:

Market is testing decent supports. Let us see where it goes!

It is now a sell on rise market unless proved otherwise!

Volatility could again be moving up!

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.