Market Analysis of 28th September 2021 and Trade Recommendations
Views On Nifty & Bank Nifty: Nifty and Bank Nifty opened high but immediately slid and never recovered. Nifty fell by 0.60% and Bank Nifty by 0.59%.IT and NBFC sector being the worst performing today.
Data Analysis: In the cash market trading data, we find that while FIIs were net sellers, DIIs were net buyers. FIIs seem to be selling heavy. We can observe huge fall in FII’s positions in Index Futures. Though the changes in Index calls and puts are nominal. This may be telling us that FIIs may be building heavy short positions in Futures and indication of Further market fall.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is 18.5350.US and European markets are in deep red. Check Asian markets in the morning.
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Adani Green (1144.50): High volume candles past few days with low price moves. Potential NR7 stock. Could move heavy on either side.
2. Biocon (361.95): Reversal seen could be profit booking. Short trades possible below RSI < 45.
3. Gail (159.50): Up move by 3.24%
4. Heromotoco (2920.55): RSI > 60. Huge Volume candle. Stock could be near Resistance. Correction is expected. BUY ON DIP
5. HINDUUNILVR (2723.85): Doji could be indicator for Bullish Reversal. Buy when RSI > 60.
6. ICICIGI (1562.45): Bearish. Sell below RSI < 45 on Daily charts.
7. Indigo (2023.05): EXPECT bullish reversal from EMA 20 on DAILY charts.
8. Maruti (7423.85): HOLD. Bullish on stock. Take new positions only if rally sustains.
9. Mahindra and Mahindra (806.05): As expected there was profit booking. Fell by 0.65%.Still away from EMA 20.Those holding the stock can 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. FIIs seem to be selling heavy. We can observe huge fall in FII’s positions in Index Futures. Though the changes in Index calls and puts are nominal. This may be telling us that FIIs may be building heavy short positions in Futures and indication of Further market fall.
Looking at the today’s Participant Data Only Clients have net bullish positions and FIIs ,DIIs and Pros have bearish positions. India VIX is 18.5350.US and European markets are in deep red. Check Asian markets in the morning.
Trade Recommendations for 27th Sep – 1st Oct 2021:
1. Adani Green (1144.50): High volume candles past few days with low price moves. Potential NR7 stock. Could move heavy on either side.
2. Biocon (361.95): Reversal seen could be profit booking. Short trades possible below RSI < 45.
3. Gail (159.50): Up move by 3.24%
4. Heromotoco (2920.55): RSI > 60. Huge Volume candle. Stock could be near Resistance. Correction is expected. BUY ON DIP
5. HINDUUNILVR (2723.85): Doji could be indicator for Bullish Reversal. Buy when RSI > 60.
6. ICICIGI (1562.45): Bearish. Sell below RSI < 45 on Daily charts.
7. Indigo (2023.05): EXPECT bullish reversal from EMA 20 on DAILY charts.
8. Maruti (7423.85): HOLD. Bullish on stock. Take new positions only if rally sustains.
9. Mahindra and Mahindra (806.05): As expected there was profit booking. Fell by 0.65%.Still away from EMA 20.Those holding the stock can 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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