Market View - 27/11/17 to 1/12/17

A full trading week ahead.

It is also expiry week for November F&O series.

Nifty50 fought hard last week to confirm the up trend!

So, Till 10250 holds, there is still a lot of possibility that Nifty may move up.

Broadly, Uptrend still looks okay as long as 10100 holds.

This week,

Buy trades look possible if Nifty remains above 10280. Ideally near the support!

Note : Sensex also fought really hard to keep the uptrend intact!

           This index looks a bit tired. Ideally would wait for a correction here.

Lots of supports have got built.

Real momentum above 33710. Till then only short term trades possible.  

          Will start becoming short term negative below 33250.

Bank Nifty just about broke out from the top of its range last week. Every single day of the week, the index opened higher and closed lower!

                                           

This week,

Proper trading opportunities will be present on either end of the range 25650-25850 or on a breakout on either side.

Other Sectoral Indices –

POSITIVE –

IT – (BUY signals above 11350 – Negative signals only below 11000)

(For now, Short term BUY trades ON DIPS in individual stocks possible)

NEGATIVE –

Metal – (SHORT SELL signals below 3700 – Positive signals only above 3850)

(For now, SHORT SELL trades on rally, in individual stocks possible)

NEUTRAL –

FMCG - (In a range 25500 – 26200)

(For now, Short term BUY trades in individual stocks possible, till the index stays above 25600)

Auto - (Positive momentum above 11450) (short term negative below 11050)

(For now, Short term trades in individual stocks on BOTH SIDES possible)

Energy (In a range 13860-14490)

(For now, Short term trades in individual stocks on BOTH SIDES possible)

Pharma (short term positive above 9450) (short term negative below 9650)

(For now, Short term SHORT SELL trades in individual stocks possible with low volumes)

Realty (Short term Positive above 320) (Short term negative below 314)

(For now, Short term trades in individual stocks on BOTH SIDES possible)

Personal Notes:

Market looks like it is deciding which way to go! Up or Down!

Till the direction is decided, short term trades based on signals on both sides look possible.

Of course, will need to remember that it is F&O expiry week as well.

Volatility index is in a range.

Went above the range for a while. Now again inside the range.

(above 14 can rise sharply till 16.5 – below 10 can drop sharply till 8.5below 10)

MOST STOCKS TEND TO FOLLOW THE TREND OF THEIR SECTOR INDEX.

BUYING SHOULD MOSTLY BE DONE IN STOCKS WHERE SECTOR INDEX IS POSITIVE.

SELLING SHOULD MOSTLY BE DONE IN STOCKS WHERE SECTOR INDEX IS NEGATIVE.

BUYING / SELLING AGAINST THE SECTOR INDEX SIGNAL CAN ALSO BE DONE IN INDIVIDUAL STOCKS, PROVIDED THERE IS A STRONG CASE FOR DOING SO.

Disclaimer – Please do your own analysis before taking trades.