In the absence of any big positive news, markets seem to be getting weak and trapped at higher levels.
Riding the profit booking wave would be my strategy for the coming weeks. Overbought and short covered sectors including Metals, Telecom, Auto and Banks on Watch.
Brexit and US China trade deal also seem to be hung for the time being. Strategy void on Announcements from the Government who only seems to be coming in with impulses to try and keep the market alive at highs. The Finance Ministry is already in progressive talks for the EU-India Trade Pact. Disinvestment is required in PSUs to cover the Tax Deficit, and favourable prices during this FY is of utmost importance. It will not be a surprise if markets consolidate in a trading range of 11550-11900 for the coming month.
Being an observational part of the trading community since a few years, this is my first post on my view of the market. This post is for educational purposes and analysis only. Positions taken should be stock specific and must always be planned with Stop Losses in place.
Riding the profit booking wave would be my strategy for the coming weeks. Overbought and short covered sectors including Metals, Telecom, Auto and Banks on Watch.
Brexit and US China trade deal also seem to be hung for the time being. Strategy void on Announcements from the Government who only seems to be coming in with impulses to try and keep the market alive at highs. The Finance Ministry is already in progressive talks for the EU-India Trade Pact. Disinvestment is required in PSUs to cover the Tax Deficit, and favourable prices during this FY is of utmost importance. It will not be a surprise if markets consolidate in a trading range of 11550-11900 for the coming month.
Being an observational part of the trading community since a few years, this is my first post on my view of the market. This post is for educational purposes and analysis only. Positions taken should be stock specific and must always be planned with Stop Losses in place.
Order cancelled:
Govt of India coming to the rescue
Trade active
Trade active:
Broken 11850 support decisively on 13/11.
Will stick with SL mentioned earlier. Those who have already added shorts in SZ as mentioned earlier can keep higher SL at 12030 levels.
Will stick with SL mentioned earlier. Those who have already added shorts in SZ as mentioned earlier can keep higher SL at 12030 levels.
Comment:
Hovering in Supply Zone. Big buying in Heavyweights like Reliance and Telecoms keeping the index up. SL may be skimmed failing to reject at 15th Novembers high at 11972. Trade SL still intact, let's see tomorrow.
Confirmation of reversal will only happen at 11850 zones. Better wait for breakdown of trend line.