Market View - 9/10/17 to 13/10/17

A full trading week ahead.

Nifty50 has formed a large range (9685-10145)

This week,

No major positive signals till 10075 is crossed.

No major negative signals till 9900 is broken.

Note : Sensex becomes more negative below 31600. Proper positive signals only above 32000.

Bank Nifty has also formed a range (23800 – 25150).

This week,

No major positive signals till 24500 is crossed.

No major negative signals till 23800 is broken.

Other Sectoral Indices -

POSITIVE –

Metal (buying only above 3740)

    

POSITIVE BUT NO SIGNALS – 

Pharma (buying only above 9630 .. more negative below 8750)

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

Auto (buying only above 10900/11060 .. turns negative below 10500/10300)

NEGATIVE –

Realty (best short sell- below 265 ... short term positive above 280)

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

NEUTRAL – 

Energy (range-12600-13700)

Personal Notes:

Best trading opportunities will come only at the extremes in range.
Till then small trades based on very short term signals.

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

Volatility is still dropping but the rally is not really picking up speed!!

Could this be a signal that a sharp drop is coming??

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.