Nasdaq - The Bulls are turning the tide

After the negative opening, Nasdaq hits the low of 13,129 and reversed back above the 13,600 levels indicating the bulls are turning the tides.

Why is today's reversal important?

Index hit the low of 13,129 but didn't break the open and low of 13,065 clocked on 24th Feb 2022. It formed bullish belt-hold candlestick pattern at the low of 13,065 with multiple reversal pattern.

Additionally, the bullish crab harmonic pattern is visible on chart which completed at 13,065 indicating apna-time-aayega for bulls. An icing on cake was the positive divergence on RSI confirming the bears are losing their ground.

Can Nasdaq help Indian IT sector ladder higher in their outperformance trend? Watch the video here https://t.me/FastProfitsReport/423

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Bank Nifty - 32,251 to 34,000+

Index reverse from the lows to 23.60% Fibonacci retracement at 33,900. Also, the gap hurdle of 34,153 needs to surpass for the further bullish momentum.

The momentum players can look to take some chips off the table.

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S&P500 - Bears may call it a day

The sell-off in last couple of hours ended the day near lows for S&P500 (SPX) after the stellar comeback from 4,114.

Surprisingly, the low of 4114 is also the palindromic number which has its significance in astro analysis. (I am not a astro analyst)

Technically, the reversal from bullish nen-star harmonic pattern and dip to test the lows are can be an opportunity for bulls.

The bullish cypher pattern has formed near the yesterday's low indicating the bears may call it a day for this bearish momentum.

The bullish divergence on RSI signs a weakening bears and it's time for bulls to enter the arena.

If bears want to continue their bearish momentum, they need to break 4,000-4,052 zone where the bullish harmonic will negate.

#KeepItSimple

Fast Profits Daily -Time to Buy Real Estate Stocks

This is why I'm bullish of realty stocks.

http://www.eqtm.in/Gb48E

The momentum reversed after short covering rally above 16,000 in Nifty; index hits high of 16,418 before closing at 16,345 gaining 2.07%.

The market breadth was enthusiastic after a long period of bearish momentum; over 75% stocks in Nifty500 ended in green.

The gap area of 16,450-16,500 in the next hurdle for bulls in Nifty; if taken out, 16750-16,800 insight for bulls.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty : 16800-16900 as hard as nails

The bulls are having a sigh of relief as Index recovered by more than 6% from the low of 15,671 to 16,700+ levels on the back of short-covering rally.

Index has hit the crucial resistance zone and bulls will face tough it as per technical structure.

1. The falling channel resistance is placed at 16,840
2. Gap-area of 16,700-17,000
3. 200DEMA is placed at 16,692

The 16,800-16,900 zone will be as hard as nails for bulls to continue its reversal momentum. If they manage to close above 16,861, the bears may lose the battle and index may head to 17,500-17,800 zone in the next couple of weeks.

As an intraday trader, I would avoid longs here as most of the Nifty giants like Reliance, Infy, TCS, HDFC and HDFC Bank have Open=High.

We recommended a Screaming Buy in Bank Nifty which is up by ~3,000pts from the lows. Watch chart here https://t.me/FastProfitsReport/419

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Nifty slips over 300pts from 16,750 to 16,450....As highlighted in the morning, avoid intraday longs.

Nifty Energy Index : Don't miss the bus

The Russia-Ukraine war has triggered bullish momentum in commodity space. US Crudeoil completes the राम वनवास as it hits the 14years of $129.

Nifty Energy Index rallied by ~10% since the war news broke out and is on the verge of bullish breakout.

Index is trading around 24,800 just near the breakout of bullish or inverted head and shoulder pattern which is placed at 25,100-25,250 zone.

Moving Average Convergence Divergence (MACD) in the lower panel of chart is trending bullish indicating the breakout can be on cards.

The breakout from the pattern can take index to the new highs and sky is the limit for these energy stocks.

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Indian markets rebound after the four weeks loss; Nifty ends at 16,630 gaining 2.37% for the week.

Index is trading at crucial resistance zone of 16,800-16,900 and failed to cross in last couple of trading session. Watch chart here https://t.me/FastProfitsReport/433

Energy index is on the verge of bullish head and shoulder breakout above 25,100-25,250. https://t.me/FastProfitsReport/435

From the broader benchmark indices, Smallcap index moves above the previous week high indicating the investors are preferring risker stocks over the blue-chip.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Sugar Sector - Sweeten up the deal

Sugar sector is trending bullish amid the market correcting and most of the sugar stocks are trading at all-time high.

We created Equal Weighted Sugar Stocks Index (EWSSI) and compared its performance with the broader index Nifty 500.

EWSSI has been outperforming since the second quarter of 2021 and continuing its performance in 2022.

The above chart highlights the fresh breakout from the 4years rounding bottom structure and I believe, this is just a beginning of an outperformance for sugar stocks.

I will be releasing a video on Sugar sector tomorrow. If you are not following our YouTube channel yet, here is the link https://www.youtube.com/user/eqtmonline/videos

Say tuned!

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Nifty : Come-on Bulls, Let's break 16,850

The open=high of 16,757 hit on 10th Mar 2022 was a cautious sign for bulls as it did right around the resistance mark.

But, it finally surpassed the first hurdle as it is trading at 16,775 at 13:00hrs today, the second hurdle is yet to be broken by bulls.

The resistance of channel is placed at 16,830 which will be the major trend change level for weeks to come.

Index has convincingly crossed above the 200DEMA (16,692) and the 61.80% Fibonacci retracement is placed at ~16,800.

The previous open=low was 16,843 and multiple lows being in the range of 16,830-16,850 zone, the range may act as minor hurdle.

Come-on bulls, lets break the resistance zone and head higher to 17,400-17,900 zone.

#KeepItSimple

Indian markets gain for straight fifth day on the back of short covering rally; Nifty gains 1.45% to end the day at 16,871.

Nifty surpass the crucial resistance zone of falling channel and 61.80% Fibonacci retracement; heading for 17,000+ levels. Watch chart here

IT Index – The White Knight managed to bottom out the Nifty at 15,671 but IT index has huge room to head higher. Watch video here to know the levels for IT sector

Brijesh Bhatia
Research Analyst, Fast Profit Report

Fast Profits Daily - Sugar Stocks: Outperformers of 2022

Why are sugar stocks on fire? Here's the answer…

http://www.eqtm.in/t9Z7J

Is it the bounce or the reversal in Indian markets?

Nifty slips back to the lower levels after facing the resistance at 200DMA which is placed at 16,981.

The falling channel breakout and move above the 61.80% Fibonacci retracement indicates the bulls are in control of the momentum and this dip is yet to confirm that the rally from ~15,700 to 16,900 is just a bounce.

The decisive levels for the confirmation of bearish momentum will be below 16,386 while the move above 16,774 will confirm the momentum towards 17,170.

Some stocks from Banks and Financial Services space are witnessing short covering rally but longs are yet to build-up which is witnessed in IT.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Pharma Index - Bulls are losing the ground

As Indian equity market recovers from the lows, pharma index too witnessed the sharp recovery from ~12,300 to ~13,500 levels.

Index is resisting at 200DEMA (13,480) and slips lower to form the bearish candlestick pattern.

On 2hrs chart, the bearish harmonic pattern is visible right at the 200DEMA.

The bulls are losing the ground as witness multiple bearish candlestick pattern which indicates the bear's are gruffing.

Additionally, the bearish crossover on MACD signals an end to bullish momentum.

If bulls fail to close cross 13,689, its everything for bears on the plate.
(CMP-13331)

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Paper stocks are flying high:

JK Paper +9%
West Coast +7%
Ruchira +7%

More to come........