Nifty PSU Bank Index - In a sweet spot for Bulls
PSU Bank Index has corrected ~20% from the highs of 2,989 in April 2022.
There have been series of 20% fall and rise in last 6months.
History repeats itself
The bulls come to rescue at ~20% fall and this is the third time the bulls are grabbing the opportunity.
The consolidation and reversal in the recent momentum confirms the history is repeating.
The breakout, retest and bullish momentum indicates the recent low of 2,391 can be the short-term bottom for index.
Moving Average Convergence Divergence (MACD) in the below panel confirms the bottom as the positive crossover of averages and histogram trending above integer line is the sign of bullish tone.
Bulls should accumulate PSU Bank stocks for short-term. Considering the previous rise, 2,800-2,900 can be on cards in coming months.
(CMP-2,565)
#KeepItSimple
PSU Bank Index has corrected ~20% from the highs of 2,989 in April 2022.
There have been series of 20% fall and rise in last 6months.
History repeats itself
The bulls come to rescue at ~20% fall and this is the third time the bulls are grabbing the opportunity.
The consolidation and reversal in the recent momentum confirms the history is repeating.
The breakout, retest and bullish momentum indicates the recent low of 2,391 can be the short-term bottom for index.
Moving Average Convergence Divergence (MACD) in the below panel confirms the bottom as the positive crossover of averages and histogram trending above integer line is the sign of bullish tone.
Bulls should accumulate PSU Bank stocks for short-term. Considering the previous rise, 2,800-2,900 can be on cards in coming months.
(CMP-2,565)
#KeepItSimple
👍26❤4
Nifty reversed from the reversal level of bullish AB=CD harmonic pattern from the first minute of the day; ends in green at 16,478 gaining 0.74%.
On hourly chart, the bullish range shift on Relative Strength indicates the bulls are in control of momentum; the move above 16,530 may accelerate the momentum towards 16,800-16,900 levels.
Bank Nifty reversing from the demand zone of inverted head & shoulder retest and gap area of 34,700-35,000 zone. Read here - http://www.eqtm.in/Kf5x7
The history repeats itself in PSU Bank index as it turns the tide after falling ~20% for the third time in last 6months. Watch chart here - https://t.me/FastProfitsReport/593
Brijesh Bhatia
Research Analyst, Fast Profit Report
On hourly chart, the bullish range shift on Relative Strength indicates the bulls are in control of momentum; the move above 16,530 may accelerate the momentum towards 16,800-16,900 levels.
Bank Nifty reversing from the demand zone of inverted head & shoulder retest and gap area of 34,700-35,000 zone. Read here - http://www.eqtm.in/Kf5x7
The history repeats itself in PSU Bank index as it turns the tide after falling ~20% for the third time in last 6months. Watch chart here - https://t.me/FastProfitsReport/593
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍24
Nifty to Gaps - Quit Playing Games with my heart
The gap openings are the traders enemy which have been so frequent in the last 6months.
Are Gaps, the new normal?
As most of us have been through the new normal post corona, but the new normal with gap opening will continue to be the riskier affair for swing traders.
The more riskier part in the current scenario is the index closing near the day high/low & opening in opposite direction.
Traditionally, when stock/index closes near the DH/DL, it was considered bullish/bearish. But, the things are exactly opposite.
On the Nifty, it closed near the DH yesterday (High-16,492, Close-16,478) and opens today with -200pts is the risk for swing traders.
Index is trending between the gaps of 15,942-16,211 on lower end & 16,370-16,510 on upper. Traders should look for swing opportunities within the gaps.
The falling channel (dotted line) indicates support at 16,161.
Intraday traders should look to buy around 16,180-16,240 zone.
(CMP-16275)
#KeepItSimple
The gap openings are the traders enemy which have been so frequent in the last 6months.
Are Gaps, the new normal?
As most of us have been through the new normal post corona, but the new normal with gap opening will continue to be the riskier affair for swing traders.
The more riskier part in the current scenario is the index closing near the day high/low & opening in opposite direction.
Traditionally, when stock/index closes near the DH/DL, it was considered bullish/bearish. But, the things are exactly opposite.
On the Nifty, it closed near the DH yesterday (High-16,492, Close-16,478) and opens today with -200pts is the risk for swing traders.
Index is trending between the gaps of 15,942-16,211 on lower end & 16,370-16,510 on upper. Traders should look for swing opportunities within the gaps.
The falling channel (dotted line) indicates support at 16,161.
Intraday traders should look to buy around 16,180-16,240 zone.
(CMP-16275)
#KeepItSimple
👍29❤9
Nifty - The Black Monday?
US markets bleed red on Friday as Dow Jones closed down by 880pts to settle at 31,392 after US Inflation data hits 40years high at 8.6%.
The effects of US sell-off is witnessed on Asian markets as SGX trades below 15,900 mark at 8:50am IST.
The panic selling amongst traders can be on cards in the first hour of the day.
Technically, the 15,400-15,800 band will be the key support area for bulls. The bulls have to protect the zone to stay in the game.
The Gann Fan tool too indicates the key support zone for bulls at 15,400 levels.
As a trader, avoid bottom fishing in the first half of the day and do not leverage in the current market scenario.
#KeepItSimple
US markets bleed red on Friday as Dow Jones closed down by 880pts to settle at 31,392 after US Inflation data hits 40years high at 8.6%.
The effects of US sell-off is witnessed on Asian markets as SGX trades below 15,900 mark at 8:50am IST.
The panic selling amongst traders can be on cards in the first hour of the day.
Technically, the 15,400-15,800 band will be the key support area for bulls. The bulls have to protect the zone to stay in the game.
The Gann Fan tool too indicates the key support zone for bulls at 15,400 levels.
As a trader, avoid bottom fishing in the first half of the day and do not leverage in the current market scenario.
#KeepItSimple
👍39❤4
The D-street bleed red as Sensex and Nifty fell by 2.6% to close at 52,846 and 15,774 respectively.
Sensex hits the major support area of 21MMA (Monthly Moving Average) which is placed at 52,943. The average is tested for the first time after September 2020.
Nifty is also trading around the key demand area of 15,400-15,700. Read here https://t.me/FastProfitsReport/596
Brijesh Bhatia
Research Analyst, Fast Profit Report
Sensex hits the major support area of 21MMA (Monthly Moving Average) which is placed at 52,943. The average is tested for the first time after September 2020.
Nifty is also trading around the key demand area of 15,400-15,700. Read here https://t.me/FastProfitsReport/596
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍20❤1
A breather or an end for bears?
Nifty traded in a range of 200pts after the sell-off yesterday as it trades at a major support zone of 15,400-15,700 zone; ends the day at 15,732 losing 0.27%.
The bulls are managing to hold the support area as tug-of-war was witnessed in today’s session on breach of previous swing low of 15,671 to hit the new low at 15,659 on Nifty.
Market breadth across major benchmark indices was 1:1 today after 1:9 in bears favor yesterday.
Index is likely to consolidate and form the base in the zone of 15,400-15,700. The next leg of sell-off can be expected only on a close below 15,400.
Brijesh Bhatia
Research Analyst, Fast Profit Report
Nifty traded in a range of 200pts after the sell-off yesterday as it trades at a major support zone of 15,400-15,700 zone; ends the day at 15,732 losing 0.27%.
The bulls are managing to hold the support area as tug-of-war was witnessed in today’s session on breach of previous swing low of 15,671 to hit the new low at 15,659 on Nifty.
Market breadth across major benchmark indices was 1:1 today after 1:9 in bears favor yesterday.
Index is likely to consolidate and form the base in the zone of 15,400-15,700. The next leg of sell-off can be expected only on a close below 15,400.
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍31❤2
Forwarded from Equitymaster
Given the sell off in the market, I am...
Final Results
33%
Sitting on sidelines, waiting for lower levels
51%
Starting to invest in beaten down but fundamentally strong stocks
16%
Going all in as I believe the market is near the bottom
👍1
Nifty - The heebie-jeebies
Nifty has corrected over 5% in the first half of June after the 3% correction in May 2022.
Index is trading at 46 weeks low but the fear on D-street is at an extreme level.
On monthly chart, the price action has given the heebie-jeebies to bulls as the fear has hit the new historical high (so far). The recovery in second half of the month may change the fear level on closing basis.
The Ram Vanvas
As per Hindu mythology, Shri Ram had gone to Vanvas for 14 years. On similar line, index broke out of 14yrs trendline and comfortably trending above the breakout levels.
In recent fall, the breakout retest is on cards which will be an opportunity for bulls.
Historically, the retest of trendline breakout and retest has proved positive.
With an extreme fear and price trending bullish at support area, its time to be pessimistic and start accumulating the best stocks in phased manner.
यस्य कृत्यं न विघ्नन्ति शीतमुष्णं भयं रति ।
समृध्दिरसमृद्धिर्वा स वै पण्डित उच्यते ॥
#KeepItSimple
Nifty has corrected over 5% in the first half of June after the 3% correction in May 2022.
Index is trading at 46 weeks low but the fear on D-street is at an extreme level.
On monthly chart, the price action has given the heebie-jeebies to bulls as the fear has hit the new historical high (so far). The recovery in second half of the month may change the fear level on closing basis.
The Ram Vanvas
As per Hindu mythology, Shri Ram had gone to Vanvas for 14 years. On similar line, index broke out of 14yrs trendline and comfortably trending above the breakout levels.
In recent fall, the breakout retest is on cards which will be an opportunity for bulls.
Historically, the retest of trendline breakout and retest has proved positive.
With an extreme fear and price trending bullish at support area, its time to be pessimistic and start accumulating the best stocks in phased manner.
यस्य कृत्यं न विघ्नन्ति शीतमुष्णं भयं रति ।
समृध्दिरसमृद्धिर्वा स वै पण्डित उच्यते ॥
#KeepItSimple
👍38❤4
👍10
“Compounding has a snowball effect. It is just a tiny ball of snow at the very start, but it can turn into an avalanche over time.”
― Naved Abdali
Watch Ramesh Damani as he shares his knowledge on Compounding, Making Rs.100crs.
#corecompetence
#investing
#compounding
https://www.youtube.com/watch?v=IUILIK74fxY
― Naved Abdali
Watch Ramesh Damani as he shares his knowledge on Compounding, Making Rs.100crs.
#corecompetence
#investing
#compounding
https://www.youtube.com/watch?v=IUILIK74fxY
YouTube
Ramesh Damani on Compounding, Making Rs 100 Crores, Next Stock Market Leaders | Ramesh Damani
Get free access to our latest research idea instantly. Visit: http://www.eqtm.in/i7D9C
Investors like Ramesh Damani are hard to come by.
Arguably one of the most successful investors in India, he remains disappointed that he has not done even better.…
Investors like Ramesh Damani are hard to come by.
Arguably one of the most successful investors in India, he remains disappointed that he has not done even better.…
👍10❤1
Fast Profits Daily - This is how Gold Performs when Inflation is High
Is gold the best hedge against inflation? Find out...
http://www.eqtm.in/c2C5E
Is gold the best hedge against inflation? Find out...
http://www.eqtm.in/c2C5E
Forwarded from Equitymaster
Given the sell off in the markets, I am starting to invest in... (Select one or more)
Final Results
49%
Bluechip / Largecap stocks
23%
Midcap stocks
16%
Smallcap stocks
5%
Penny stocks
32%
I am not investing at this moment
👍20❤3
SmallCap Index - At Long-Term Support
Equity markets are on a selling sphere as US inflation is on rising streak hitting 40years high of 8.60%.
Russell 2000, the US Small Cap index corrected over 30% from the highs, so is our Nifty Small Cap index.
The Bear Market
As per market analogy, the fall of 20% is considered as bear market scenario.
Small cap index correcting over 30% is a sign of bearish market. But....
The Confluence of Support
Nifty Small Cap index is trading at the confluence of long-term support.
1. Historically, the 200WEMA (Weekly Exponential Moving Average) have been the deciding factor for the trend. The average is placed at 8,062 and index took support at average this week (Low - 8,149).
2. The rising trendline support is placed at 7,950 below the 200WEMA.
The levels of 7,950-8,062 will act as major support zone for bulls. The pattern would negate on a weekly close below the support zone.
(CMP-8,250)
#KeepItSimple
Equity markets are on a selling sphere as US inflation is on rising streak hitting 40years high of 8.60%.
Russell 2000, the US Small Cap index corrected over 30% from the highs, so is our Nifty Small Cap index.
The Bear Market
As per market analogy, the fall of 20% is considered as bear market scenario.
Small cap index correcting over 30% is a sign of bearish market. But....
The Confluence of Support
Nifty Small Cap index is trading at the confluence of long-term support.
1. Historically, the 200WEMA (Weekly Exponential Moving Average) have been the deciding factor for the trend. The average is placed at 8,062 and index took support at average this week (Low - 8,149).
2. The rising trendline support is placed at 7,950 below the 200WEMA.
The levels of 7,950-8,062 will act as major support zone for bulls. The pattern would negate on a weekly close below the support zone.
(CMP-8,250)
#KeepItSimple
👍21❤7
Sensex @ Long-term Technical Support
Sensex is trending at the long-term support of the rising trendline. From the high of 20,959 in 2008, if we draw a trendline connecting the highs, the support is placed around 49,000-50,000 levels.
Additionally, 100WEMA plays a key role for investors which is placed at 51,883. Considering a +/-2% deviation from the average, it coincides with the trendline support.
Since 2008, whenever prices tested or hovered around the 100WEMA, it has offered an opportunity to investors.
In the lower panel, the Relative Strength Index (RSI) is trending the oversold zone of 30. Apart from 2008 and 2020, the financial crisis and the pandemic, where the RSI has slipped below 20, the 30-35 zone has been an excellent opportunity for the bulls.
As the Sensex is trading around 51,300 levels around the trendline, I believe the ongoing correction might end between 49,000-51,000, where we are looking at the multiple supports.
(CMP-51,300)
#Sensex
#KeepItSimple
Sensex is trending at the long-term support of the rising trendline. From the high of 20,959 in 2008, if we draw a trendline connecting the highs, the support is placed around 49,000-50,000 levels.
Additionally, 100WEMA plays a key role for investors which is placed at 51,883. Considering a +/-2% deviation from the average, it coincides with the trendline support.
Since 2008, whenever prices tested or hovered around the 100WEMA, it has offered an opportunity to investors.
In the lower panel, the Relative Strength Index (RSI) is trending the oversold zone of 30. Apart from 2008 and 2020, the financial crisis and the pandemic, where the RSI has slipped below 20, the 30-35 zone has been an excellent opportunity for the bulls.
As the Sensex is trading around 51,300 levels around the trendline, I believe the ongoing correction might end between 49,000-51,000, where we are looking at the multiple supports.
(CMP-51,300)
#Sensex
#KeepItSimple
👍29❤1
The last hour recovery on D-street ends the Nifty in green at 15,350 gaining 0.37%.
FMCG (+1.80%) & Financial Services (+0.96%) leads the day while Metals (-3.90%) & Media (-2.6%) were laggards in the sectorial indices for the day.
Dow Jones and Sensex are trading at long-term support zone and market correction seems coming to an end as extreme fear leads to buying opportunity. Watch the chart structure here https://www.youtube.com/watch?v=X8---OYYdvI&t=8s
Brijesh Bhatia
Research Analyst, Fast Profit Report
FMCG (+1.80%) & Financial Services (+0.96%) leads the day while Metals (-3.90%) & Media (-2.6%) were laggards in the sectorial indices for the day.
Dow Jones and Sensex are trading at long-term support zone and market correction seems coming to an end as extreme fear leads to buying opportunity. Watch the chart structure here https://www.youtube.com/watch?v=X8---OYYdvI&t=8s
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍17
Nifty Realty Index - At demand zone
Realty index broke out of 10years consolidation in July'21 at 370 and hit the high of 560 in Nov'21.
As market corrects, realty index is down by ~35% in last 7mnths.
Should you buy the dip?
Index @ demand zone
The 10yrs consolidation breakout is retested at 370 giving investors an opportunity to accumulate the best outperforming stocks.
The black parallel lines on weekly chart above indicates the demand zone of 350-370 with the 50% Fibonacci retracement level from the low of 160 to high of 560 is placed at 360.
RSI in the lower panel is approaching the buying level as price action is at strong support zone.
Technically, the retest of breakout offers an excellent low risk - high reward trade setup. Investors should grab this opportunity in Realty stocks.
(CMP-373)
Nifty Realty Index Components:
Brigade Enterprises
DLF
Godrej Properties
Indiabulls RE
Macrotech Developers
Oberoi Realty
Prestige Estates
Sobha Developers
Sunteck Realty
The Phoenix Mills
#KeepItSimple
Realty index broke out of 10years consolidation in July'21 at 370 and hit the high of 560 in Nov'21.
As market corrects, realty index is down by ~35% in last 7mnths.
Should you buy the dip?
Index @ demand zone
The 10yrs consolidation breakout is retested at 370 giving investors an opportunity to accumulate the best outperforming stocks.
The black parallel lines on weekly chart above indicates the demand zone of 350-370 with the 50% Fibonacci retracement level from the low of 160 to high of 560 is placed at 360.
RSI in the lower panel is approaching the buying level as price action is at strong support zone.
Technically, the retest of breakout offers an excellent low risk - high reward trade setup. Investors should grab this opportunity in Realty stocks.
(CMP-373)
Nifty Realty Index Components:
Brigade Enterprises
DLF
Godrej Properties
Indiabulls RE
Macrotech Developers
Oberoi Realty
Prestige Estates
Sobha Developers
Sunteck Realty
The Phoenix Mills
#KeepItSimple
👍23❤13
Fast Profits Daily
Sensex @ Long-term Technical Support Sensex is trending at the long-term support of the rising trendline. From the high of 20,959 in 2008, if we draw a trendline connecting the highs, the support is placed around 49,000-50,000 levels. Additionally, 100WEMA…
Sensex - Heading higher 📈
As I highlighted Sensex is trending at long-term support area and market correction may end, bulls are respecting the levels.
Sensex reclaims 52,500 levels from the low of ~51,000. On Friday I did a video indicating the buying opportunity. Watch video here https://www.youtube.com/watch?v=X8---OYYdvI&t=1s
Dow Jones is also trading at the crucial support zone. After the long-weekend, US markets will open today. At 1pm IST, DJIA Futures is trading at 30,340 (+1.58%).
#KeepItSimple
As I highlighted Sensex is trending at long-term support area and market correction may end, bulls are respecting the levels.
Sensex reclaims 52,500 levels from the low of ~51,000. On Friday I did a video indicating the buying opportunity. Watch video here https://www.youtube.com/watch?v=X8---OYYdvI&t=1s
Dow Jones is also trading at the crucial support zone. After the long-weekend, US markets will open today. At 1pm IST, DJIA Futures is trading at 30,340 (+1.58%).
#KeepItSimple
YouTube
Is the Market Correction Over? | Dow Jones | Sensex
Discover: The 5-Minute Blueprint for Becoming a ONE STOCK CROREPATI: http://www.eqtm.in/Wn5r8
In this video I’ll show you why I think the market correction could be coming to an end.
The stock market correction has been severe. Fear on the street is at…
In this video I’ll show you why I think the market correction could be coming to an end.
The stock market correction has been severe. Fear on the street is at…
👍14
Fast Profits Daily - HAL - Hold or Sell
Should you sell or hold the stock of HAL? Find out...
http://www.eqtm.in/g2HPo
Should you sell or hold the stock of HAL? Find out...
http://www.eqtm.in/g2HPo
👍8
Nifty - Bears are in control of Short-term trend
Nifty has corrected over 8% (low of 15,183) in the June 2022, the biggest fall since March 2020 and trending at the long-term support area of 14,900-15,200.
I did a video on Dow Jones and Sensex long-term technical levels. Watch here https://www.youtube.com/watch?v=X8---OYYdvI
Short-term Technical Setup
On short-term chart, index has broken down from bearish cup and handle pattern at 15,700 and hit the low of 15,183.
The bullish momentum of 1.9% yesterday retested the breakdown and opened on a negative note in today's session indicating the bears are in control of short-term trend.
The gap area (green box) is an icing on cake for bears and hurdle for bulls.
Traders should look for short opportunities on rise until 15,800-15,900 band is not crossed.
Additionally, the gap of 15,380-15,420 may act as support zone for intraday momentum.
The bulls need to cross the 15,800-15,900 as confirmation of reversal.
(CMP-15,475)
#Nifty
#KeepItSimple
Nifty has corrected over 8% (low of 15,183) in the June 2022, the biggest fall since March 2020 and trending at the long-term support area of 14,900-15,200.
I did a video on Dow Jones and Sensex long-term technical levels. Watch here https://www.youtube.com/watch?v=X8---OYYdvI
Short-term Technical Setup
On short-term chart, index has broken down from bearish cup and handle pattern at 15,700 and hit the low of 15,183.
The bullish momentum of 1.9% yesterday retested the breakdown and opened on a negative note in today's session indicating the bears are in control of short-term trend.
The gap area (green box) is an icing on cake for bears and hurdle for bulls.
Traders should look for short opportunities on rise until 15,800-15,900 band is not crossed.
Additionally, the gap of 15,380-15,420 may act as support zone for intraday momentum.
The bulls need to cross the 15,800-15,900 as confirmation of reversal.
(CMP-15,475)
#Nifty
#KeepItSimple
👍22❤1