As promised by Rahul Goel, here is the link to know all about the biggest announcement ever at Equitymaster
http://www.eqtm.in/r3W5B
http://www.eqtm.in/r3W5B
Can depreciating Rupee trigger recovery in IT Stocks?
The Rupee has been depreciating against the US Dollar and trading at all-time low of 79.13.
Watch my technical view on USDINR here https://www.youtube.com/watch?v=xghwpA21V9M&t=7s
The rupee is likely to hit 80 sooner which will is beneficial for Indian IT sector.
IT sector has swift impact of rupee momentum against dollar.
Will History repeat?
Historically, the USDINR and IT index stocks go hand-in-hand, though sometimes there are divergence considering the equity market scenario but the long-term relationship stays together.
An abrupt bullish momentum in USDINR triggers an uptick in IT index which was witnessed in 2009 & 2012.
IT index is down by 28% in H12022 while depreciating rupee may trigger a recovery in IT index.
On weekly chart of IT index, the bullish harami candlestick pattern is visible in mid-June indicating the sign of reversal. The depreciating rupee may ignite the reversal for IT index.
(#USDINR-79, #NIFTYIT-28,100)
#KeepItSimple
The Rupee has been depreciating against the US Dollar and trading at all-time low of 79.13.
Watch my technical view on USDINR here https://www.youtube.com/watch?v=xghwpA21V9M&t=7s
The rupee is likely to hit 80 sooner which will is beneficial for Indian IT sector.
IT sector has swift impact of rupee momentum against dollar.
Will History repeat?
Historically, the USDINR and IT index stocks go hand-in-hand, though sometimes there are divergence considering the equity market scenario but the long-term relationship stays together.
An abrupt bullish momentum in USDINR triggers an uptick in IT index which was witnessed in 2009 & 2012.
IT index is down by 28% in H12022 while depreciating rupee may trigger a recovery in IT index.
On weekly chart of IT index, the bullish harami candlestick pattern is visible in mid-June indicating the sign of reversal. The depreciating rupee may ignite the reversal for IT index.
(#USDINR-79, #NIFTYIT-28,100)
#KeepItSimple
👍18
Auto Index - On verge of multi-year breakout
Auto index has been outperforming against Nifty50 since the start of April 2022.
Auto index gains 12% against the loss of 9% for Nifty50 from March 2022 closing indicating the best sector to invest in the current market scenario.
If you are subscriber of our premium product Fast Profits Report, I have recommended couple of Auto stocks which are outperforming against the Nifty50.
The multiple highs of ~12,100 was hit in 2017 and 2021 respectively which is acting as hurdle.
Moving Average Convergence Divergence (MACD) indicates the momentum could surpass the resistance zone as the bullish crossover of averages around the integer lines is sign of strength in the trend.
As Auto index outperforms and benchmark index recovering, auto index may breakout towards the new all-time highs.
(CMP-11,850)
#AutoIndex
#KeepItSimple
Auto index has been outperforming against Nifty50 since the start of April 2022.
Auto index gains 12% against the loss of 9% for Nifty50 from March 2022 closing indicating the best sector to invest in the current market scenario.
If you are subscriber of our premium product Fast Profits Report, I have recommended couple of Auto stocks which are outperforming against the Nifty50.
The multiple highs of ~12,100 was hit in 2017 and 2021 respectively which is acting as hurdle.
Moving Average Convergence Divergence (MACD) indicates the momentum could surpass the resistance zone as the bullish crossover of averages around the integer lines is sign of strength in the trend.
As Auto index outperforms and benchmark index recovering, auto index may breakout towards the new all-time highs.
(CMP-11,850)
#AutoIndex
#KeepItSimple
👍20
Dear Fast Profits Report Subscriber,
The Russia-Ukraine war is odd. It has lasted 4 months already and shows no sign of winding down.
This is very contrary to the kind of wars we have seen in recent decades, which start and end far quicker.
Having said that, there's a fair chance that going forward, Russia-Ukraine like situations may be the norm, rather than exception.
Now, I don't mean in terms of an actual war...but perhaps in terms of a prolonged threat of war.
But what does all this have to do with you and me dear reader? Will the aftermath of Russia Ukraine war continue to affect us?
How will we make the most of this situation and profit from any opportunity that arises?
I answer all these questions in our premium product Fast Profit Reports released today and take you through a brand new recommendation. This company stands to gain big from the war and outperformance of energy index.
Subscriber, you have received report in your mailbox. Incase you haven't, kindly login in your account on www.equitymaster.com to read our premium report.
The Russia-Ukraine war is odd. It has lasted 4 months already and shows no sign of winding down.
This is very contrary to the kind of wars we have seen in recent decades, which start and end far quicker.
Having said that, there's a fair chance that going forward, Russia-Ukraine like situations may be the norm, rather than exception.
Now, I don't mean in terms of an actual war...but perhaps in terms of a prolonged threat of war.
But what does all this have to do with you and me dear reader? Will the aftermath of Russia Ukraine war continue to affect us?
How will we make the most of this situation and profit from any opportunity that arises?
I answer all these questions in our premium product Fast Profit Reports released today and take you through a brand new recommendation. This company stands to gain big from the war and outperformance of energy index.
Subscriber, you have received report in your mailbox. Incase you haven't, kindly login in your account on www.equitymaster.com to read our premium report.
👍19
Something's cooking in Tyre Stocks
Tyre stocks are forming the base since December 2021, and it seems something is cooking looking at the technical structure.
We created an Equal Weighted Tyre Index (EQTI) to analyse the trend and performance of tyre stocks.
Do you know?
Tyre stocks are outperforming against the broader market index Nifty 500 since April 2022.
Technical Structure:
The probable bullish head & shoulder pattern (marked blue) is forming on daily chart with the current leg as right shoulder.
What caught my eyes was the bullish pennant breakout (black) with volumes triggers an upward momentum.
As tyre is commodity driven sector, commodity prices have corrected over 20% which is bullish for tyre companies.
Traders & investors should look for opportunities in the tyre stocks.
#TyreStocks
#KeepItSimple
Tyre stocks are forming the base since December 2021, and it seems something is cooking looking at the technical structure.
We created an Equal Weighted Tyre Index (EQTI) to analyse the trend and performance of tyre stocks.
Do you know?
Tyre stocks are outperforming against the broader market index Nifty 500 since April 2022.
Technical Structure:
The probable bullish head & shoulder pattern (marked blue) is forming on daily chart with the current leg as right shoulder.
What caught my eyes was the bullish pennant breakout (black) with volumes triggers an upward momentum.
As tyre is commodity driven sector, commodity prices have corrected over 20% which is bullish for tyre companies.
Traders & investors should look for opportunities in the tyre stocks.
#TyreStocks
#KeepItSimple
👍23❤1
#Nifty - Trendline breakout....But 🤨
July has been the month of bulls so far and breaking the chain of bearish momentum in May and June.
Since 2001, Nifty hasn’t closed in red for straight four months; can we have green close in July?
The technical breakout
Nifty has reversed from the lows of 15,183 and trading above the key psychological level of 16,000.
On daily chart, index has broken out of 3months falling trendline with the gap in today's session.
But.........
It resists at the short-term 50DEMA for over 2months which is placed at 16,148.
Why 50DEMA is important?
Index is trading below the Death Cross and 50DEMA will act as hurdle for bulls.
Additionally, gap high of 16,172 needs to be taken out with strength.
The bullish range-shift on RSI is something in favours of bulls if we close above 16,100 today.
(CMP-16110)
#KeepItSimple
July has been the month of bulls so far and breaking the chain of bearish momentum in May and June.
Since 2001, Nifty hasn’t closed in red for straight four months; can we have green close in July?
The technical breakout
Nifty has reversed from the lows of 15,183 and trading above the key psychological level of 16,000.
On daily chart, index has broken out of 3months falling trendline with the gap in today's session.
But.........
It resists at the short-term 50DEMA for over 2months which is placed at 16,148.
Why 50DEMA is important?
Index is trading below the Death Cross and 50DEMA will act as hurdle for bulls.
Additionally, gap high of 16,172 needs to be taken out with strength.
The bullish range-shift on RSI is something in favours of bulls if we close above 16,100 today.
(CMP-16110)
#KeepItSimple
👍44
Fast Profits Daily
#Nifty - Trendline breakout....But 🤨 July has been the month of bulls so far and breaking the chain of bearish momentum in May and June. Since 2001, Nifty hasn’t closed in red for straight four months; can we have green close in July? The technical breakout…
Nifty bulls takes the resistance with gap. 16,172-16,068 will act as support zone.
❤10👍6
Nifty Metals Index - Oportunidad in al rojo mercado
In 2021, commodities market witnesses the stellar rally which fuelled Nifty metals index to gain 70% while 2022 has been on opposite side with the loss of ~13% so far.
It has been underperforming against the broader markets as most of the metals in commodities market correct over 20% from highs.
Oportunidad in al rojo mercado
It the Spanish phrase which means "opportunity in the red market" as metals index corrected to the demand zone as per technical pattern.
Chart says Buy It!
On weekly chart, index has fell near the 2018 highs of 4,256. The resistance will act as support while the 200WEMA placed at 4,140 will be an icing on cake for investors.
RSI In the lower panel is trending in oversold zone indicating an opportunity in the red market.
(CMP-4,800)
#KeepItSimple
In 2021, commodities market witnesses the stellar rally which fuelled Nifty metals index to gain 70% while 2022 has been on opposite side with the loss of ~13% so far.
It has been underperforming against the broader markets as most of the metals in commodities market correct over 20% from highs.
Oportunidad in al rojo mercado
It the Spanish phrase which means "opportunity in the red market" as metals index corrected to the demand zone as per technical pattern.
Chart says Buy It!
On weekly chart, index has fell near the 2018 highs of 4,256. The resistance will act as support while the 200WEMA placed at 4,140 will be an icing on cake for investors.
RSI In the lower panel is trending in oversold zone indicating an opportunity in the red market.
(CMP-4,800)
#KeepItSimple
👍27❤1
Special Announcement
Hello Subscribers, I have a very special announcement for you today.
As you are following me on Twitter, Telegram and YouTube and showing fondness by liking the content I put out, I would like to make a Special Announcement on the basis of feedback I have received.
I’m starting a new video series - Daily Market Analysis - which will be shared every morning before the market opens.
I will share this video pre-market so that you get the best trading ideas before you start your trading journey every day.
It will be a short video discussing the chart structure of Nifty and an important chart for traders.
On that optimistic note, I really appreciate your support and would request you to continue sharing the feedback.
Regards,
Brijesh.
Hello Subscribers, I have a very special announcement for you today.
As you are following me on Twitter, Telegram and YouTube and showing fondness by liking the content I put out, I would like to make a Special Announcement on the basis of feedback I have received.
I’m starting a new video series - Daily Market Analysis - which will be shared every morning before the market opens.
I will share this video pre-market so that you get the best trading ideas before you start your trading journey every day.
It will be a short video discussing the chart structure of Nifty and an important chart for traders.
On that optimistic note, I really appreciate your support and would request you to continue sharing the feedback.
Regards,
Brijesh.
👍160❤50
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Daily Market Analysis
SGX Nifty indicates the negative opening of ~100points.
Chart Pattern on Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Island reversal below 16,150
4. Gap area support
5. Bullish Cup & Handle breakout retest
6. Day traders - keep watch on 16,000-16,065 zone.
#HappyTrading
#KeepItSimple
SGX Nifty indicates the negative opening of ~100points.
Chart Pattern on Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Island reversal below 16,150
4. Gap area support
5. Bullish Cup & Handle breakout retest
6. Day traders - keep watch on 16,000-16,065 zone.
#HappyTrading
#KeepItSimple
👍32❤15
Swapping horses in the midstream
It is said that "don't swap the horses in the midstream" but I believe it's time investors swap from Large-cap (Nifty50) to Mid-cap sector in India.
Mid-Cap underperformance of 35months against Nifty50 ended in Nov’20 and an outperformance phase began. Between Nov’20 to Dec’21, Midcap gained 82% while Nifty gained 52%.
Since start of 2022, Midcap witnessed selling pressure with loss of 9% over Nifty’s 7% at current price.
Time to buy Midcap over Nifty50
The ratio chart above highlights the history repeats itself as it is trending above the 200DEMA with the bullish range-shift on RSI.
Historically, an outperformance cycle of Midcap over Nifty lasts over 3years and this cycle is 2years young so far.
I believe till mid of 2023, Midcap outperformance may outlive.
#KeepItSimple
It is said that "don't swap the horses in the midstream" but I believe it's time investors swap from Large-cap (Nifty50) to Mid-cap sector in India.
Mid-Cap underperformance of 35months against Nifty50 ended in Nov’20 and an outperformance phase began. Between Nov’20 to Dec’21, Midcap gained 82% while Nifty gained 52%.
Since start of 2022, Midcap witnessed selling pressure with loss of 9% over Nifty’s 7% at current price.
Time to buy Midcap over Nifty50
The ratio chart above highlights the history repeats itself as it is trending above the 200DEMA with the bullish range-shift on RSI.
Historically, an outperformance cycle of Midcap over Nifty lasts over 3years and this cycle is 2years young so far.
I believe till mid of 2023, Midcap outperformance may outlive.
#KeepItSimple
👍25❤11
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Daily Market Analysis
Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Gap
4. Bullish Cup & Handle
5. 16,000-16,065 is key support area for day traders
Bank Nifty:
1. Bearish Bat
2. 200DEMA resistance
3. 35,600-35,700 hurdle for Bulls
Nifty:
1. Bearish Reciprocal AB=CD
2. Bearish AB=CD
3. Gap
4. Bullish Cup & Handle
5. 16,000-16,065 is key support area for day traders
Bank Nifty:
1. Bearish Bat
2. 200DEMA resistance
3. 35,600-35,700 hurdle for Bulls
👍36❤6
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Daily Market Analysis_13th July 2022
#Dow Jones
1. Confluence of Support
2. Support area @ 30,600-30,700
#Nifty
1. Bearish Harmonic
2. Bullish Cup & Hand
3. Gap area
4. Rejection @ 200EMA (2hrs chart)
#IT Index:
1. Bullish Harmonic
2. Oversold RSI
Have a Profitable Day.
#KeepItSimple
#Dow Jones
1. Confluence of Support
2. Support area @ 30,600-30,700
#Nifty
1. Bearish Harmonic
2. Bullish Cup & Hand
3. Gap area
4. Rejection @ 200EMA (2hrs chart)
#IT Index:
1. Bullish Harmonic
2. Oversold RSI
Have a Profitable Day.
#KeepItSimple
👍25❤7
Fast Profits Daily
Daily Market Analysis Nifty: 1. Bearish Reciprocal AB=CD 2. Bearish AB=CD 3. Gap 4. Bullish Cup & Handle 5. 16,000-16,065 is key support area for day traders Bank Nifty: 1. Bearish Bat 2. 200DEMA resistance 3. 35,600-35,700 hurdle for Bulls
Banknifty underperforming- A day late but Bearish Harmonic pattern playing its role.
❤8👍6
JSW Steel to lead Metals Index
Metals index corrected over 30% from the highs of 2022 as Commodities witness the sell-off.
Nifty Metals index was one of the most underperforming sector after the stellar rally in 2021.
In the recent recovery, the Metals index recovered over 10% and few of the metal’s company declared dividend and one such company is JSW Steel.
Outperformance of JSW Steel
In the market recovery, JSW Steel has outperformed against the Metal Index since June 2022 and the bullish momentum prolongs which can be witnessed on the chart (right chart).
On to the daily price chart of JSW Steel (left), the stock is heading higher and once the gap is taken out at 600, the momentum may accelerate which will lead Metals index higher.
JSW Steel weighs ~13% in the Metals Index.
(CMP-588)
#KeepItSimple
Metals index corrected over 30% from the highs of 2022 as Commodities witness the sell-off.
Nifty Metals index was one of the most underperforming sector after the stellar rally in 2021.
In the recent recovery, the Metals index recovered over 10% and few of the metal’s company declared dividend and one such company is JSW Steel.
Outperformance of JSW Steel
In the market recovery, JSW Steel has outperformed against the Metal Index since June 2022 and the bullish momentum prolongs which can be witnessed on the chart (right chart).
On to the daily price chart of JSW Steel (left), the stock is heading higher and once the gap is taken out at 600, the momentum may accelerate which will lead Metals index higher.
JSW Steel weighs ~13% in the Metals Index.
(CMP-588)
#KeepItSimple
👍19
Nifty ends below 16,000 mark after forming multiple bearish pattern at 16,250; ends at 15,967 losing 0.57%.
The bullish cup & handle breakout retest is placed at 15,900-15,930 which will act as support for bulls.
Bullish range-shift on RSI indicates the momentum towards 16,450-16,500.
The bullish harmonic pattern is visible on daily chart of IT index at 26,600-26,700 which may take index higher.
Invest in these Midcap stocks as Midcap index is likely to outperform against Nifty. Watch video here https://www.youtube.com/watch?v=mliN8BhfM-o&t=1s
Brijesh Bhatia
Research Analyst, Fast Profit Report
The bullish cup & handle breakout retest is placed at 15,900-15,930 which will act as support for bulls.
Bullish range-shift on RSI indicates the momentum towards 16,450-16,500.
The bullish harmonic pattern is visible on daily chart of IT index at 26,600-26,700 which may take index higher.
Invest in these Midcap stocks as Midcap index is likely to outperform against Nifty. Watch video here https://www.youtube.com/watch?v=mliN8BhfM-o&t=1s
Brijesh Bhatia
Research Analyst, Fast Profit Report
👍10❤2