Market Analysis of 27th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: After a strong opening, the markets witnessed profit booking and closed flat. The market breadth was evenly split with 25 stocks posting gains.
Data Analysis: In the cash market trading data, we find that while FIIs were net sellers, DIIs were net buyers. Taking a 3-day average, we can see that PRO has turned bullish in derivatives segment. We can observe that FIIs have added to their positions in Index Futures and Index Puts and reduced their positions in Index Calls.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is 18+.Markets are bearish and would recommend to hold to existing short positions,
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Adani Green (1150.10): High volume candles past few days with low price moves.NR4 stock. Could move heavy on either side.
2. Biocon (358.95): Heavy fall on 27th September. Can be shorted below RSI = 45
3. Gail (155.45): RSI > 60. Could have huge bullish move.
4. Heromotoco (2915): RSI > 60. Could have huge bullish move.
5. HINDUUNILVR (2744): Reversal from a support area. Good spot to buy on dip
6. ICICIGI (1559): Bearish. Sell below RSI < 45 on Daily charts.
7. Indigo (2138.70): HOLD. No new transactions advised.
8. Maruti (7420): Bullish move with heavy volume. Buy to pyramid this stock. Those holding the stock can add.
9. Mahindra and Mahindra (805.90): There could be profit booking. Away from EMA 20. This could trigger correction. Correction would lead to good opportunity to buy on dip.
a) As calls are valid for the period 27th September to 1st October 2021
b) Any stocks added should be assumed to be included in the watchlist of that current week and those removed should excluded from it.
Data Analysis: In the cash market trading data, we find that while FIIs were net sellers, DIIs were net buyers. Taking a 3-day average, we can see that PRO has turned bullish in derivatives segment. We can observe that FIIs have added to their positions in Index Futures and Index Puts and reduced their positions in Index Calls.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is 18+.Markets are bearish and would recommend to hold to existing short positions,
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Adani Green (1150.10): High volume candles past few days with low price moves.NR4 stock. Could move heavy on either side.
2. Biocon (358.95): Heavy fall on 27th September. Can be shorted below RSI = 45
3. Gail (155.45): RSI > 60. Could have huge bullish move.
4. Heromotoco (2915): RSI > 60. Could have huge bullish move.
5. HINDUUNILVR (2744): Reversal from a support area. Good spot to buy on dip
6. ICICIGI (1559): Bearish. Sell below RSI < 45 on Daily charts.
7. Indigo (2138.70): HOLD. No new transactions advised.
8. Maruti (7420): Bullish move with heavy volume. Buy to pyramid this stock. Those holding the stock can add.
9. Mahindra and Mahindra (805.90): There could be profit booking. Away from EMA 20. This could trigger correction. Correction would lead to good opportunity to buy on dip.
a) As calls are valid for the period 27th September to 1st October 2021
b) Any stocks added should be assumed to be included in the watchlist of that current week and those removed should excluded from it.
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