US markets post the worst performance of the year as it end down by 2% on anticipation that interest rate will stay higher to control inflation.
SGX Nifty trades below 17,800 with the loss if 72 points; 17,684-17,597 insight for bears.
The bulls losing the momentum on Nifty around 17,900-18,000 mark offers an opportunity for bears; 17,500 will be the key support.
BankNifty may act as support for bulls in the range of 40,350-40,500 zone.
#PreMarket
#SGXNifty
SGX Nifty trades below 17,800 with the loss if 72 points; 17,684-17,597 insight for bears.
The bulls losing the momentum on Nifty around 17,900-18,000 mark offers an opportunity for bears; 17,500 will be the key support.
BankNifty may act as support for bulls in the range of 40,350-40,500 zone.
#PreMarket
#SGXNifty
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Nifty - Approaching support
The weak global cues triggered the lower opening for Indian markets.
Nifty which struggled to head higher lost its bullish momentum and slipped below 17,700 in the early hours today.
Index is approaching the support area of 200DEMA (Daily Exponential Moving Average) placed at 17,593.
The support of the rising channel is placed at 17,575 around the average which signals the next support area.
The derivative structure indicates the support of 17,500-17,600 as 17500PE and 17600PE hold an OI of over 1,75,000 contracts.
All the benchmark indices on NSE is trading down by ~1%.
#Nifty
#KeepItSimple
The weak global cues triggered the lower opening for Indian markets.
Nifty which struggled to head higher lost its bullish momentum and slipped below 17,700 in the early hours today.
Index is approaching the support area of 200DEMA (Daily Exponential Moving Average) placed at 17,593.
The support of the rising channel is placed at 17,575 around the average which signals the next support area.
The derivative structure indicates the support of 17,500-17,600 as 17500PE and 17600PE hold an OI of over 1,75,000 contracts.
All the benchmark indices on NSE is trading down by ~1%.
#Nifty
#KeepItSimple
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The D-street bleed red as Nifty and Sensex fell 1.5% to end at 17,554 and 59,744 respectively.
Nifty500, the broader market index closed below the 200DMA for the first time since July 2022; time to be cautious for bulls.
Nifty50 is hovering at the major support area of 17,500 - technically and as per derivative structure too.
If bulls manage to hold 17,457 tomorrow, the expiry is likely around 17,600 levels.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
Nifty500, the broader market index closed below the 200DMA for the first time since July 2022; time to be cautious for bulls.
Nifty50 is hovering at the major support area of 17,500 - technically and as per derivative structure too.
If bulls manage to hold 17,457 tomorrow, the expiry is likely around 17,600 levels.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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The month started with volatility on Budget Day and it's been a range trading for last 4 weeks.
SGX Nifty indicating an opening around 17,600 with gains of 48 points.
On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The 17600CE writer's were active yesterday and the sustainable move above 17,600 in the first hour may trigger short-covering rally. On the other hand, the break of 17,458 may accelerate bearish momentum.
#SGXNifty
#PreMarket
SGX Nifty indicating an opening around 17,600 with gains of 48 points.
On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The 17600CE writer's were active yesterday and the sustainable move above 17,600 in the first hour may trigger short-covering rally. On the other hand, the break of 17,458 may accelerate bearish momentum.
#SGXNifty
#PreMarket
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Fast Profits Daily
The month started with volatility on Budget Day and it's been a range trading for last 4 weeks. SGX Nifty indicating an opening around 17,600 with gains of 48 points. On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The…
Bulls managing to hold the support of 17,458 on Nifty. 🤞🏻
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Zee Entertainment – The Breakdown 📉
The stock is trading down by 10% after the bankruptcy court admits the company is under the insolvency resolution process.
Now you can now track the buzzing stocks here
Technically, the stock has broken the rising trendline (green) on the weekly chart indicating a sign of caution for bulls.
The higher high – higher low bullish structure as per Dow Theory has been negated signalling the trend reversal.
The next support is placed at Rs 160; if broken may accelerate the bearish momentum on the chart.
(CMP-Rs.190)
The stock is trading down by 10% after the bankruptcy court admits the company is under the insolvency resolution process.
Now you can now track the buzzing stocks here
Technically, the stock has broken the rising trendline (green) on the weekly chart indicating a sign of caution for bulls.
The higher high – higher low bullish structure as per Dow Theory has been negated signalling the trend reversal.
The next support is placed at Rs 160; if broken may accelerate the bearish momentum on the chart.
(CMP-Rs.190)
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The volatile day on Wall-Street ends in green with the gains of 0.33% on Dow Jones; Nasdaq gains 0.72%.
Nifty manage to close above 17,500 on expiry day; hovering around 200DEMA.
SGX Nifty is trading 88 points higher at 17,645; the spot Nifty needs to close above 17,634 for bullish momentum.
The banks may continue to put pressure on markets; the break of 39,389 on BankNifty may accelerate the bearish trend.
#PreMarket
#SGXNifty
Nifty manage to close above 17,500 on expiry day; hovering around 200DEMA.
SGX Nifty is trading 88 points higher at 17,645; the spot Nifty needs to close above 17,634 for bullish momentum.
The banks may continue to put pressure on markets; the break of 39,389 on BankNifty may accelerate the bearish trend.
#PreMarket
#SGXNifty
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Hindalco - Descending into the Red 📉
The stock began the new F&O expiry with a bearish tone by losing over 4% in the first hour of the day.
Now you can now track the buzzing stocks here
Technically, the stock price on the chart has turned bearish as highlighted by multiple patterns.
1. The rising trendline breakdown (black).
2. The long-term exponential moving average of 200 days which is a trend signals a bearish tone as the multiple rejections at the average in the last couple of weeks triggered the bearish momentum.
The setup would negate on breach of 50DEMA (green).
Bears are having an upper hand on the chart with the support placed at Rs 389-395.
(CMP-419)
#NiftyMetals
#KeepItSimple
The stock began the new F&O expiry with a bearish tone by losing over 4% in the first hour of the day.
Now you can now track the buzzing stocks here
Technically, the stock price on the chart has turned bearish as highlighted by multiple patterns.
1. The rising trendline breakdown (black).
2. The long-term exponential moving average of 200 days which is a trend signals a bearish tone as the multiple rejections at the average in the last couple of weeks triggered the bearish momentum.
The setup would negate on breach of 50DEMA (green).
Bears are having an upper hand on the chart with the support placed at Rs 389-395.
(CMP-419)
#NiftyMetals
#KeepItSimple
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Forwarded from Equitymaster
What's your prediction for the Sensex for 2023 (end of year)?
Final Results
17%
Less than 55,000
21%
Between 55,000 to 60,000
30%
Between 60,000 and 65,000
18%
Between 65,000 and 70,000
14%
More than 70,000
This Sector is in Danger ⚠️
The last week's turbulence on D-street resulted in trend reversal in many of the sectors and stocks.
One such sector is Breweries and Distilleries which is showing the sign of reversal on the charts.
We created Market-Cap Weighted Breweries & Distilleries Index to analyse the sector trend. On the daily chart, the chart depicts:
1. The trendline breakdown.
2. Death-Cross moving average.
3. The probable double-top pattern.
We have heard many stories of people talking about investing in Eicher motors rather than buying its bike while some say investing in breweries stocks rather than drinking 60-90ml every day. 😛
I guess no one-stop drinks for the sake of investing. What about you?
Happy Saturday!
The last week's turbulence on D-street resulted in trend reversal in many of the sectors and stocks.
One such sector is Breweries and Distilleries which is showing the sign of reversal on the charts.
We created Market-Cap Weighted Breweries & Distilleries Index to analyse the sector trend. On the daily chart, the chart depicts:
1. The trendline breakdown.
2. Death-Cross moving average.
3. The probable double-top pattern.
We have heard many stories of people talking about investing in Eicher motors rather than buying its bike while some say investing in breweries stocks rather than drinking 60-90ml every day. 😛
I guess no one-stop drinks for the sake of investing. What about you?
Happy Saturday!
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Equity bears would cheer the last week's performance as Dow Jones and Sensex fell over 2.5%; the broader market stocks witnessed more selling pressure.
The global indices are trending on the thin line between bullish and bearish as we are witnessing the positive hidden divergence on the strength Indicator, Relative Strength Index (RSI) on the weekly chart of Dow Jones and Sensex. This week close will be decider of trend continuation or reversal.
On Nifty, 17,300 will act as major support area as the budget day low is 17,343 and 200DMA is placed at 17,368.
The Fear & Greed Indicator is at 20.47 indicating Extreme Fear. This levels were last seen in June 2022.
#PreMarket
#SGXNifty
The global indices are trending on the thin line between bullish and bearish as we are witnessing the positive hidden divergence on the strength Indicator, Relative Strength Index (RSI) on the weekly chart of Dow Jones and Sensex. This week close will be decider of trend continuation or reversal.
On Nifty, 17,300 will act as major support area as the budget day low is 17,343 and 200DMA is placed at 17,368.
The Fear & Greed Indicator is at 20.47 indicating Extreme Fear. This levels were last seen in June 2022.
#PreMarket
#SGXNifty
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US markets open higher and trades in a range; the bulls seems coming back at the support area of 200DEMA.
European markets continue to head higher with the gains of 0.7-1.5%; an outperforming indices in 2023.
Nifty breach the budget day of 17,343 and completes the Bullish AB=CD pattern on short-term chart. The reversal on cards till 17,279 is untouched.
On my moving average band of 234DEMA (High) and 234DEMA (Low), index is trading in the band. The last hour bullish tone from the band Indicates the bulls may end the bearish tone on the street.
BankNifty is indicating sign of reversal in the support area of 39,500-40,000; likely to lead the markets higher.
#PreMarket
#SGXNifty
European markets continue to head higher with the gains of 0.7-1.5%; an outperforming indices in 2023.
Nifty breach the budget day of 17,343 and completes the Bullish AB=CD pattern on short-term chart. The reversal on cards till 17,279 is untouched.
On my moving average band of 234DEMA (High) and 234DEMA (Low), index is trading in the band. The last hour bullish tone from the band Indicates the bulls may end the bearish tone on the street.
BankNifty is indicating sign of reversal in the support area of 39,500-40,000; likely to lead the markets higher.
#PreMarket
#SGXNifty
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The 12 Best Oversold Stocks to Add to Your Watchlist
Is it finally time to get in these oversold stocks in India?
Most Oversold Stocks in India
Here’s an extract…
Add these oversold stocks to your watchlist…
The minor trend on D-street is bearish but the primary and secondary trend is still bullish.
In the primary and secondary bullish trend, the buy-on-dips strategy in oversold stocks works great.
We shortlisted the stocks based on a 14-period RSI, weekly and daily.
Here is the list of stocks which are in the oversold zone on daily as well as weekly chart from the Nifty500 index.
http://www.eqtm.in/Pz54T
Is it finally time to get in these oversold stocks in India?
Most Oversold Stocks in India
Here’s an extract…
Add these oversold stocks to your watchlist…
The minor trend on D-street is bearish but the primary and secondary trend is still bullish.
In the primary and secondary bullish trend, the buy-on-dips strategy in oversold stocks works great.
We shortlisted the stocks based on a 14-period RSI, weekly and daily.
Here is the list of stocks which are in the oversold zone on daily as well as weekly chart from the Nifty500 index.
http://www.eqtm.in/Pz54T
Equitymaster
The 12 Best Oversold Stocks to Add to Your Watchlist
Is it finally time to get in these oversold stocks in India?
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Nifty - An Extreme Fear on D-Street
Since the start of 2023, the period of Indian share market's outperformance against global markets seems to be taking a pause.
Is it the right time for bargain buying?
The Indian share markets witnessed selling pressure and started the week with a negative bias.
The best way to check the market's sentiment is by the Fear and Greed indicator.
The Fear and Greed index is a popular sentiment indicator used by traders to measure the level of fear or greed in the market.
The index ranges from 0 to 100, with 80-100 as extreme greed and 0-20 as extreme fear.
On the Nifty 50 daily chart, if the Fear & Greed index goes below 20 (orange zone), it is the best buying opportunity, and the Nifty has entered this zone as it broke the budget 2023 lows of 17,343 today.
The reversal in the market can be on cards. I believe traders and investors should add oversold stocks to their watchlists.
The 12 Best Oversold Stocks to Add to Your Watchlist
#Nifty
#Fear&Greed
#KeepItSimple
Since the start of 2023, the period of Indian share market's outperformance against global markets seems to be taking a pause.
Is it the right time for bargain buying?
The Indian share markets witnessed selling pressure and started the week with a negative bias.
The best way to check the market's sentiment is by the Fear and Greed indicator.
The Fear and Greed index is a popular sentiment indicator used by traders to measure the level of fear or greed in the market.
The index ranges from 0 to 100, with 80-100 as extreme greed and 0-20 as extreme fear.
On the Nifty 50 daily chart, if the Fear & Greed index goes below 20 (orange zone), it is the best buying opportunity, and the Nifty has entered this zone as it broke the budget 2023 lows of 17,343 today.
The reversal in the market can be on cards. I believe traders and investors should add oversold stocks to their watchlists.
The 12 Best Oversold Stocks to Add to Your Watchlist
#Nifty
#Fear&Greed
#KeepItSimple
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