A Bearish Belt-hold and Bearish Engulfing to end the week on Nifty mark a risk of bullish momentum; 17,500-17,900 will be the key decider this week.
US markets traded in the range last week. The bullish momentum on Dow Jones can be expected only on a break of 34,500 or the rangebound momentum may prolong.
This Friday close will be weekly and monthly close. Nifty has formed long-legged doji last month and the close above 17,800 will confirm the short-term bottom at 16,800.
On BankNifty, the break of 42,700 will resume the bullish momentum while 41,488 will be the support for the week.
#SGXNifty
#PreMarket
US markets traded in the range last week. The bullish momentum on Dow Jones can be expected only on a break of 34,500 or the rangebound momentum may prolong.
This Friday close will be weekly and monthly close. Nifty has formed long-legged doji last month and the close above 17,800 will confirm the short-term bottom at 16,800.
On BankNifty, the break of 42,700 will resume the bullish momentum while 41,488 will be the support for the week.
#SGXNifty
#PreMarket
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Forwarded from Equitymaster
Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3
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Forwarded from Equitymaster
Don't Fall for the Trap in Pharma Stocks
Multiple technical factors indicate that investors should avoid pharma stocks in the current market. More details inside…
Pharma Stocks Outlook
Here’s an extract…
Pharma is a defensive sector but the golden period of the pandemic for pharma companies marked a top for the sector.
Pharmaceutical products were in high demand during 2020-21. As soon as investors realised the V-shaped recovery in global equities, money flew out from pharma stocks into aggressive sectors.
But recently the Nifty Pharma index rallied for straight five weeks and paused at the major hurdle on the chart.
http://www.eqtm.in/Nn57C
Multiple technical factors indicate that investors should avoid pharma stocks in the current market. More details inside…
Pharma Stocks Outlook
Here’s an extract…
Pharma is a defensive sector but the golden period of the pandemic for pharma companies marked a top for the sector.
Pharmaceutical products were in high demand during 2020-21. As soon as investors realised the V-shaped recovery in global equities, money flew out from pharma stocks into aggressive sectors.
But recently the Nifty Pharma index rallied for straight five weeks and paused at the major hurdle on the chart.
http://www.eqtm.in/Nn57C
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Indian markets started the week with bullish tone as Nifty and Sensex gains 0.7% each; bulls likely to rule in the monthly expiry week.
Nifty closed near the day high but the major hurdle for resumption of bullish trend is 17,900.
Which sector can trigger bullish breakout?
1. Bank Nifty has closed above the bearish belt-hold candlestick pattern indicating the bulls are back in the game for 43,000+.
2. HDFC twins are leading the table for Fin Serv. SBI, Axis and Kotak witnessed the technical breakout while the short covering rally in Bajaj twins may adds the fuel to the rally.
3. TCS is showing the sign of reversal for IT index. Ihe short covering and lower rollover on derivative front will be the first indication of an end to 15months of bearish momentum for the sector. Watch technical view on IT Index here
4. Pharma witnessed the short-lived rally but trading at the major hurdle and an overbought zone on charts. Read here
SGX Nifty indicating the positive opening around 17,800.
#PreMarket
#SGXNifty
Nifty closed near the day high but the major hurdle for resumption of bullish trend is 17,900.
Which sector can trigger bullish breakout?
1. Bank Nifty has closed above the bearish belt-hold candlestick pattern indicating the bulls are back in the game for 43,000+.
2. HDFC twins are leading the table for Fin Serv. SBI, Axis and Kotak witnessed the technical breakout while the short covering rally in Bajaj twins may adds the fuel to the rally.
3. TCS is showing the sign of reversal for IT index. Ihe short covering and lower rollover on derivative front will be the first indication of an end to 15months of bearish momentum for the sector. Watch technical view on IT Index here
4. Pharma witnessed the short-lived rally but trading at the major hurdle and an overbought zone on charts. Read here
SGX Nifty indicating the positive opening around 17,800.
#PreMarket
#SGXNifty
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Fast Profits Daily
https://www.youtube.com/watch?v=G7DA0uvyLQM&t=114s
TCS - The Lone Wolf 🔥
As highlighted in the video, TCS is outperforming the IT pack. 💰
Hope you didn't miss my video.
#ITIndex
#TCS
#KeepItSimple
As highlighted in the video, TCS is outperforming the IT pack. 💰
Hope you didn't miss my video.
#ITIndex
#TCS
#KeepItSimple
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US markets take a u-turn after consolidating near resistance; benchmark indices fell over a percent. Dow Jones Transportation Index and BankIndex dell 3.6% and 2.7% respectively.
On DowJones, the broadening Wedge pattern indicates the index may dip to 32,600 levels.
Indian markets traded in a range yesterday and SGX Nifty indicates negative opening of 30points.
Nifty is yet to break the major hurdle of 17,900 on the chart.
On derivative structure, 17800CE and 18000CE holds OI over 2L contracts indicating a resistance zone while 17700PE have an OI of 2.66L signaling support area.
Index may trade in the range till expiry between 17,500-18,000 zone.
Banking stocks were trending mix as ICICI and SBI were bullish while HDFCBank and Axis Bank closed in red.
On BankNifty, 42,300 will act as major support zone and likely to head towards 43,000 levels.
#PreMarket
#SGXNifty
On DowJones, the broadening Wedge pattern indicates the index may dip to 32,600 levels.
Indian markets traded in a range yesterday and SGX Nifty indicates negative opening of 30points.
Nifty is yet to break the major hurdle of 17,900 on the chart.
On derivative structure, 17800CE and 18000CE holds OI over 2L contracts indicating a resistance zone while 17700PE have an OI of 2.66L signaling support area.
Index may trade in the range till expiry between 17,500-18,000 zone.
Banking stocks were trending mix as ICICI and SBI were bullish while HDFCBank and Axis Bank closed in red.
On BankNifty, 42,300 will act as major support zone and likely to head towards 43,000 levels.
#PreMarket
#SGXNifty
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Fast Profits Daily
Nifty - A Range Trading ahead of Expiry 📈📉 #Straddle #Strangle #ExpiryLevels #KeepItSimple
Nifty - Option Writers are Enjoying 💰
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US markets slip for a straight second day as Transportation stocks fell over 3.5% for consecutive days.
The head and should breakdown is visible on the Dow Jones Transportation (DJT) index indicating more pain for the transportation industry like airlines, railroads, trucking companies, and shipping companies. DJT is a way to measure the health of the overall economy.
On Expiry Day, Nifty is likely to trade in the range of 17,700-17,950 as indicated by the derivative structure.
On the chart, the gap of 17th April 2023 is filled at 17,826 and the index has the wall to climb at 17,900.
Index is likely to trade in the range of 17,680-17,900 today and traders can look for writing options.
On BankNifty, the index broke above the previous high of 42,865 indicating the momentum towards 43,000 levels.
SGX Nifty is indicating a positive opening of 35pts.
#PreMarket
#SGXNifty
The head and should breakdown is visible on the Dow Jones Transportation (DJT) index indicating more pain for the transportation industry like airlines, railroads, trucking companies, and shipping companies. DJT is a way to measure the health of the overall economy.
On Expiry Day, Nifty is likely to trade in the range of 17,700-17,950 as indicated by the derivative structure.
On the chart, the gap of 17th April 2023 is filled at 17,826 and the index has the wall to climb at 17,900.
Index is likely to trade in the range of 17,680-17,900 today and traders can look for writing options.
On BankNifty, the index broke above the previous high of 42,865 indicating the momentum towards 43,000 levels.
SGX Nifty is indicating a positive opening of 35pts.
#PreMarket
#SGXNifty
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Forwarded from Equitymaster
Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3
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It's a weekly and monthly close on charts; global equities, gold and silver may close in green for the month.
On Nifty, after the doji in March, the April series is ending with bullish candlestick confirming the reversal.
Can we hit new all-time-high in the May series?
BankNifty reclaimed 43,000 mark; base for the May series will be at 41,600-42,234 zone.
SGXNifty indicating the positive opening of 70points; 18,000 will be the key for the Nifty Spot.
#PreMarket
#SGXNifty
On Nifty, after the doji in March, the April series is ending with bullish candlestick confirming the reversal.
Can we hit new all-time-high in the May series?
BankNifty reclaimed 43,000 mark; base for the May series will be at 41,600-42,234 zone.
SGXNifty indicating the positive opening of 70points; 18,000 will be the key for the Nifty Spot.
#PreMarket
#SGXNifty
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