The bulls are back in style as they reclaim the 17,000 marks on Nifty; end the day at 17,274 gaining 2.3%.

The bullish engulfing followed by bullish harami confirms the bullish reversal on the Nifty as it closes above the high of 17,187.

Bullish Wyckoff and Bullish Harmonic patterns discussed in the Daily Pre-Market Analysis are playing their role. Watch here https://www.youtube.com/watch?v=11F6rGUsDqg&t=39s

The recent swing low of 16,747 marks the short-term bottom and signals upside levels of 17,515-17,700.

A move above the gap area resistance of 17,300 and 39,500 on Nifty and BankNifty respectively may trigger the short-covering rally.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty - If we open above the resistance zone of 17,300-17,340 and close above it in the first 15mins of the day, we may hit our expected upside levels of 17,515-17,700.

Are you ready with your Shopping List? 📈😁

Daily Pre-Market Analysis - 6th October | Nifty & Bank Nifty Trading Levels | Weekly Expiry Options Strategy |

SGX Nifty Live @ 17,430

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/wtN58sUxJks

The Ultimate ‘Buy’ List for this Market Correction...

There’s a very tiny minority of listed companies that have the potential to be the greatest wealth creators for Indian investors.

No market crash, no economic slowdown, and no amount of business disruption could pull them from climbing the fortune ladder.

And any investor that could get their hands on... could potentially put themselves into the top 1% club of Indian investors.

Don’t miss your chance to enter this 1% club at 5pm on Monday, 10th October.

More details here…

http://www.eqtm.in/y4B8H

Buy Pharma Stocks in this Quarter

https://youtu.be/DxQaD0rI8GI

Daily Pre-Market Analysis - 7th October | Nifty & Bank Nifty - Buy at Open | Pharma & PSU Index |

SGX Nifty Live @ 17,275

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/uo98uG5lsLA

Nifty - Low @ 17,239 to High of 17,334 📈

As discussed 17,230-17,250 is the buying zone...Day Low will be the next short-term support once the index moves above 17,414.

The bulls are back on D-street as Nifty gains 1.3% in the truncated week to end at 17,314.

The resistance turns support at 16,750 marking the short-term bottom on charts; the bulls will be in control of the trend till the recent low of 16,747 is unbroken.

An “evening star” candlestick pattern at the high of 17,428 on the daily chart may act as a hindrance for bulls next week.

The gap area of 17,200-17,300 is acting as a support zone as it is held during the day.

The break of the 17,184-17,516 range may accelerate the momentum.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 10th October | Nifty - SGX signals Gap-Down | Dow Jones - Bearish Island |

SGX Nifty Live @ 17,040

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/NrcXpKfHCbg

Indian indices recovered after the gap-down opening; Nifty ended at 17,241 losing 0.73%.

IT index kept the bulls in the game as it was the only index to end in green; gains 1.06%.

Watch the chart here https://t.me/FastProfitsReport/911

Nifty formed the bullish candle but an evening star candlestick pattern at the high of 17,428 dubious the traders about the bullish scenario.

Bank Nifty reversal from the gap support area of 38,500 indicates that bullish momentum can be on cards during the week. Traders can look to buy the dip till 38,292 is negated.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 11th October | Nifty & BankNifty Strategy | IT Index - The Short-term Trade |

SGX Nifty Live @ 17,190

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/erZOnIEJuPo

Nifty - Stuck in the range

The break of 17000-17300 can accelerate the momentum.

What is your trading plan?
👍🏻 Strangle Short
👎🏻 No Trades
❤️ Scalping

The last hour selling on D-street ends the day below 17,000 for Nifty, which lost 257 points.

All sectoral indices ended in red with the Realty index losing 2.53%.

Nifty hovers in the range of 50DEMA (17,262) and 200DEMA (16,901).

The double-top breakdown, retest and bearish continuation signal the bears are having an upper hand in the short-term trend.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 12th October | Nifty - No Trading Zone | Bank Nifty - The Bulls Gap |

SGX Nifty Live @ 16,965

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/Sq-6WyH1R54

Auto Index – Make-or-Break

After outperforming for straight four months between May-August 2022 against Nifty50, the auto index lost its momentum in September and carried over in October.

Are bulls tired?

Auto Index has corrected over 8% from its all-time high of 13,421 and hovering in the range of 12,300-13,000 range.

The momentum seems exhaustive on the weekly timeframe as markets have corrected from 18,000 levels to 17,000 levels on Nifty50.

The Trader’s Opportunity

On the 2hours chart, the index is trading in the rising megaphone pattern.

The low of 12,459 and the reversal in the momentum signals bulls are grabbing the opportunity.

But long they can take it?

The falling trendline and bearish bar (marked red) resistance at 12,725 is a must-break for bulls to head higher towards 13,000+ levels; else bears will take the lead on the break of 12,400.

Trades should grab an opportunity on the range break of 12,400-12,730.
(CMP-12,550)

#KeepItSimple

Suzlon Energy – Accumulation or Distribution?

Every time you discuss stock markets and individual stocks in particular, be it at the coffee table or at a dinner party, the conversation doesn’t end without a mention of Suzlon Energy.

More so because it falls under the category of penny stocks and retail investors love penny stocks.

Being a market leader in wind energy space, the company is one of the popular stocks on Indian bourses.

True, it has been in the news owing to the fair share of challenges it faced over the past few years.

This time around, the company is in the news again as it is charting a recover path and looking to raise funds via rights issue.

Should you Subscribe?

Our team at Equitymaster recently published an editorial explaining whether it makes sense to subscribe to Suzlon’s rights issue.

You can check it out here: Should You Subscribe to Suzlon's Rights Issue?