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?

Daily Pre-Market Analysis - 13th October | Nifty & Bank Nifty - Expiry Strategy | Intraday Levels |

SGX Nifty Live @ 17,040

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/Ydox_ozWBPk

Wipro – Stock price on thin ice

As the company announced its quarterly results yesterday, the stock opened lower and trading down over 5%.

I’m not getting into the results update and reason to find why the Wipro stock price is falling, but the stock is trading at the thin ice levels.

Will History Repeat itself?

Similar volumes were witnessed on the 21st July 2022 opening tick and the price action reversed northwards.

The only difference between the two bars is the closing of the bar.

The close of 21st July bar was higher while today’s bar close is near the low.

Interestingly, there is no follow-up selling after the first 10mins of the opening today.

As per the Volume-Spread Analysis (VSA) theory, the bar with the highest volumes acts as support and resistance for further momentum.

In the previous volume bar, the low set the tone for the bullish momentum.

The momentum above 400 will decide the strength of today’s opening bar.
(CMP-385)

#Wipro
#KeepItSimple

Infosys - Two Paradoxical Patterns ahead of Quarterly Results

What is your Option Strategy for results?

👍🏻 Buy CE / Sell PE
👎🏻 Buy PE / Sell CE
❤️ Straddle/Strangle/Butterfly/Complex Strategies

The writer’s weekly expiry as Nifty hovers around the 17,000 mark; ends at 17,014 losing 0.64%.

The Triple Inside bar pattern on the daily chart of Nifty indicates that volatility expansion can be on cards; the break of 16,945-17,150 will be the trend decider tomorrow.

Bulls are managing to hold the 200DEMA (Daily Exponential Moving Average) placed at 17,089.

On broader chart scales, the 16,750 will be the make-or-break for bulls.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Daily Pre-Market Analysis - 14th October | Nifty - Diwali Target @ 17,800 | An Important Announcement |

SGX Nifty Live @ 17,260

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/GboEA0wqGWc

The D-street opens higher as global markets witnessed the recovery on Thursday; Nifty ends at 17,185 gaining 1%.

The broader range of 17,500-16,800 prolongs on Nifty with the slope of RSI turning northwards indicating the strength in bullish momentum.

The breakout of 17,166 retested in the second half of the day, the follow-up bullish momentum may trigger the target of 17,800 by Diwali.

Banks and IT, the highest weightage sectors can lead the Nifty50 to the expected target.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Dear Equitymaster Subscriber,

We have released the Weekly Technical Private Briefing on "It's Time to Play the Odds in the Market - IT Index"

In this edition, I have analyzed the charts of Nasdaq and IT Index as well as "The Trader's Compass for Upcoming Week - Nifty50"

Just open your mailbox to read in details.

This is BREAKING-OUT 📈

The bulls are back on D-street as Sensex and Nifty gain 0.85% and 0.73% respectively.

Banking stocks gain the most as it outperforms to lead the Nifty50 higher; BankNifty gained 1.56%.

The reversal from the breakout retest and gap in Nifty indicates the bulls are having an upper hand; the hurdle remains at 17,450 for bulls.

BankNifty breaks out of ascending triangle pattern at 39,650 signalling the target of 41,000 levels in the coming weeks. Watch the chart here https://t.me/FastProfitsReport/932

This sector should be on your watchlist as PSU Bank Index is on the verge of breakout at 3,085. https://t.me/FastProfitsReport/903

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty - Come-on Bulls, Let's Break - 17,500

Index reversed from the support of gap and retesting the trendline breakout.

SGX Nifty indicating the opening above 17,400 @ 7:15am IST.

A move above the previous high, key psychological level and the CE writer's strike at 17,500 needs to be taken out for next round of bullish momentum.

I believe the bulls are charged to take it to my expected Target of 17,800. https://youtu.be/GboEA0wqGWc

Are you ready for 17,800?

#KeepItSimple

Nifty - The Runaway Gap

The bears tried hard to protect the resistance area of 17,450, but the bulls managed to break it in style.

The Runaway Gap

As highlighted in the chart of Nifty yesterday, the trendline breakout, retest and northwards momentum indicated the bulls were in process of forming the base. Read here https://t.me/FastProfitsReport/931

With the gap-up opening above the resistance zone today, the bulls are invigorated and looking for more Diwali fireworks.

Since its opening, the first 90mins of markets just witnessed the one-way trend, that’s bullish.

If this gap-up and rally don’t break 17,300, the runaway gap can take Nifty to 17,800+ levels in the coming weeks.


The heavyweight #Reliance industries with 11% weightage have led the way for bulls ahead of its quarterly numbers out this week, can it take the index to 18,000+?

#Nifty
#KeepItSimple

PSU Bank Index - Following the Footsteps of Bank Nifty

The festive season has begun for bulls as benchmark NSE Nifty and the Bank Nifty index reclaimed 17,500 and 40,000 level, respectively.

As we highlighted yesterday, the Bank Nifty formed a breakout from the ascending triangle pattern at 39,685 level. The index has risen over 600 points within a few hours of trading to reach 40,300 levels.

PSU Bank index is likely to follow the footsteps of Bank Nifty

Technically, the PSU Bank index has reversed from the demand zone and broke out from the short-term hurdle.

1. The 38.20% Fibonacci retracement of 2,283 to 3,267 at 2,890
2. The demand zone of 50DEMA (blue line) and 200DEMA (orange line)
3. An ascending triangle breakout
4. Breakout from the gap resistance zone

Since the low of 2,283 in June 2022, the PSU Bank index has rallied close to 40%.
It is also the best outperforming sectorial index. Hence, the retracement and breakout indicate the resumption of the long-term trend.

#KeepItSimple

The Diwali fireworks on D-street as Nifty reclaim the 17,500 level; ending at 17,487 gaining 175 points.

The PSU Bank Index was the top gainer with 3.76%. I wrote a brief note on PSU Bank Index, Read here

Nifty broke out of the resistance zone with a gap and retested the 17,450 but needs to sustain above the key psychological level of 17,500 for further bullish momentum.

Bank Nifty is likely to take the lead towards the 41,000 mark, the dip can be an opportunity for traders.

Brijesh Bhatia
Research Analyst, Fast Profit Report