Bulls managing to hold the support of 17,458 on Nifty. 🤞🏻

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 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

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

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!

Nifty - Bullish Hidden Divergence?

👍🏻 Yes
👎🏻 No
❤️ I'm not a fan of RSI

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

Nifty - Do-or-Die?

Who will win?

👍🏻 Bulls
👎🏻 Bears

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

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

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

Indian markets fall for a straight eighth day and settled below 200DMA; Nifty ended at 17,303 losing 0.51%.

On the weekly chart, the Nifty is retesting the breakout of falling trendline and the 23-degree trendline.

The Fear & Greed index has slipped into an extreme fear zone indicating the reversal on cards. Watch video here

BankNifty / Nifty50 ratio chart indicates that BankNifty can outperform over Nifty50 as it reverses from the support of the horizontal trendline and 200DEMA.

Brijesh Bhatia,
Research Analyst, Fast Profits Report

Dow Jones lost all the January gains in February and closes the month near the year's low; loses 4% while Nasdaq outperforming with the loss of 0.5%.
Is IT, the sector of the year?

Nifty has broken the key support area of 17,279 but managed to close above the support; any close below the support area may accelerate the momentum below 17,000 levels.

The ratio chart of BankNifty/Nifty and FMCG/Nifty are showing sign of bullish momentum indicates an outperformance of BankNifty and FMCG over Nifty50 can be on cards in March series.

#PreMarket
#SGXNifty