Market Direction View - 23/4/18 to 27/4/18

A full trading week ahead.

Scroll down to the end for the results calendar this week.

Nifty50 – looks like it is slowly building on the positive price movement.

And it continues to respect its crucial medium term support.

But, recently it is losing momentum!

This week,

BUY signals continue if Nifty goes above 10600.

Short term SHORT SELL signals will again appear only below 10400.

The current up move likely to end below 10200.

Sensex is crossing resistances much more easily.

Recently, this index is also losing momentum.

Short term BUY signals continue if Sensex goes above 34600.

Short term SHORT SELL signals start appearing below 34200.

The current up move likely to end below 33150.

Nifty Bank – is fast losing its upward momentum.

This week,

BUY signals will re-appear only above 25200.

SHORT SELL signals will start re-appearing below Bank Nifty levels of 23700.

  

Other Sectoral Indices –

Metal – (Downtrend REVERSING?) (A new up move starts above 3981)

(For now, BUY trades in individual stocks possible after a breakout or on dips)

IT – (In an uptrend) (Will continue to be Positive till 13350 holds)

(For now, BUY trades in individual stocks possible on dips)

Auto - (In an Uptrend) (Slight loss of momentum. Needs to go above 11500)

(For now, BUY trades in individual stocks possible after a breakout)

FMCG - (In an Uptrend) (Slight loss of momentum. Positive till 27900 holds)

(For now, BUY trades in individual stocks possible on dips)

Energy - (Neutral) (Crucial supports near 13100 holding for now)

(For now, until support holds, short term BUY as well as SHORT SELL trades in individual stocks possible)

Pharma - (Downtrend REVERSING?) (Needs to cross the 8875-9000 resistance to confirm change in trend)

(For now, short term BUY as well as SHORT SELL trades in individual stocks possible)

Realty - (Downtrend REVERSING?) (Needs to cross 315 to confirm change in trend)

(For now, short term BUY as well as SHORT SELL trades in individual stocks possible)

Personal Notes:

The market movement gives us a lot of indications when it changes!

Nothing much has changed over the past couple of weeks.

It is still a SELL ON RISE market!

But, most medium term supports are holding.

So,

For now, more Short term BUY trades look possible.

Keep eyes open for short term SHORT SELL opportunities also.

This is still a trader's market.

Does not look like running away either UP or Down!

Is a range developing?

Is it the right time to BUY for the medium/long term!

Not for me!

Volatility range has shifted lower (10-14)

Low volatility ... could it mean we are taking the current market movement for granted?

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At the end of the week, we do a review of this analysis.

You can Click here to read it.

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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.

Results calendar for this week

Monday, April 23, 2018
	Bharti Infratel (BHRI)
	Lic Housing Finance (LICH)
	Reliance Infrastructure (RLIN)
Tuesday, April 24, 2018
	Bharti Airtel (BRTI)
	Oberoi Realty (OEBO)
Wednesday, April 25, 2018
	Indiabulls RE (INRL)
	KSB Pumps (KSBP)
	Mahindra & Mahindra Financial (MMFS)
	UltraTech Cement (ULTC)
	Wipro (WIPR)
	Zensar Technologies (ZENT)
Thursday, April 26, 2018
	AXIS Bank (AXBK)
	Ambuja Cements (ABUJ)
	Biocon (BION)
	SE Investments (PISA)
	Yes Bank (YESB)
Friday, April 27, 2018
	IDFC (IDFC)
	JSW Energy (JSWE)
	Maruti Suzuki (MRTI)
	Shriram Transport (SRTR)
	TGV SRAAC (TGVS)
	UPL (UPLL)