1. On week of 27-July made a high of 38617 which is 78% of restracement and respected as resistance
2. On week of 03-Aug it has broken the lows of last 2 weeks and 3 bar candle suggesting weakness a good weakness in the market.
3. Good sign is that it is abave the EMA's and near upper BB
4. Next week market may fall taking support around EMA's &...
Fundamental: Nifty is showing strength today on avid happiness on scrapping article 370 and sign from MoF to listen concern on FPIs.
VIX has been increased yesterday seems to be ease off lightly today.
Any moment in north and neighbor can impact negatively in market, and looking the global data, Bear is roaring.
Technically: A very tight resistance on 11000 for...
Current Index Level - 28204
Bear is gripping BN, if from here reversal can be confirm only if the index level sustain above 28900.
This week most likely it will be in sideways and if any negative news comes up it will head to 27250 and next 26000.
RBI rate cut is expected as 25 bps if above that its good for us to reach and sustain 28900.
Now Now for trade - we...
Cautious Buy between 2170 - 2210.
This level seems a buy side with target of 2250 and SL of 2160.
IT sector at this moment is sluggish TCS and INFY are outperformer in this scenario
For indepth research you may raise your query in comment section or in twitter.
We are in Bearish Trend, on friday we have some sign of recovery from the bottom.
Few points to be noted when everyone is screaming a buy and go long from now -
1. FIIs are still selling heavily and only DIIs are buying, from past learning we have noted the price grip is with FIIs only.
2. We have a suspect event coming up next week related to...