A short 3 day week ahead.
Holidays on Thursday (Mahaveer Jayanti) and Friday (Good Friday)
Nifty50 – Is
the 2 year old uptrend finally under serious threat?
Currently at a very important make
or break level!
This week,
Big downside and even more SHORT SELL signals will appear below 9930.
10100-10400 is now a decent
resistance on the way up.
Similar moves observed in Sensex as
well.
Big downside and even more SHORT SELL signals will appear below 32300.
33500-34000 is now a decent
resistance on the way up.
Nifty Bank – is under
a lot of pressure!
Currently at a very important make
or break level.
This week,
We could get more SHORT SELL signals
below Bank Nifty levels of 23600.
Downside will be avoided only if Bank Nifty goes above levels of
23900!
Other Sectoral Indices –
Metal – (In a
downtrend) (More downside can be avoided only above 3500)
(For now, after a rally, SHORT SELL trades
in individual stocks possible)
IT – (In a range
12545-13118) (At the bottom of the range)
(For now, until the range breaks,
short term BUY as well as SHORT SELL trades
in individual stocks possible)
Auto - (In a
Downtrend) (10750-10950 will now act as a resistance!)
(For now, after a rally, SHORT SELL trades
in individual stocks possible)
FMCG - (In a
Downtrend) (Even more downside below 25500)
(For now, after a rally, SHORT SELL trades
in individual stocks possible)
Energy - (In a
Downtrend) (Downside can be avoided if 13000 holds)
(For now, until support holds, short
term BUY as well as SHORT SELL trades
in individual stocks possible)
Pharma - (In a
downtrend) (More downside can be avoided only above 8475)
(For now, after a rally, SHORT SELL trades
in individual stocks possible)
Realty - (In a
downtrend) (Downside can be avoided if 290 holds)
(For now, until support holds, short
term BUY as well as SHORT SELL trades
in individual stocks possible)
Personal Notes:
It is now a SELL ON RISE market!
Very less BUY trades are available. And almost all of them are for
the short term!
Market trying very hard to move up
is never a good sign!
Definitely not the time to BUY for
the medium/long term!
Volatility still remains at the
lower end of its current range! (14-19)
A rise in volatility will be an
additional headache for the bulls!
=========================================
At the end of the week, we do a
review of this analysis.
=========================================
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.
We use TECHNICAL ANALYSIS for our studies.
Disclaimer – Please do your
own analysis before taking trades.
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