Auto Index – Changing the Gears

Auto Index outperformed Nifty50 between March-July’22 but when broader markets were correcting, Auto index hit new all-time high.

In the market reversal from ~15,200 to 17,800, some of the giants witness short-covering rally boosting Nifty50 to outperform against Auto index in August’22.

Accelerating the Momentum

As auto index is trending at ATH post the breakout from multiple resistance levels (marked green on charts), index breaks out from the breather in the form of wedge pattern (black dotted lines on chart).

The bullish breakout means the bulls are in control of trend and Nifty50 heading to 18,000 mark indicates an outperform will continue to outperform, it’s just a matter of time.

Constituents:
• Maruti Suzuki India
• M&M
• Bajaj Auto
• Hero MotoCorp
• Tata Motors
• Eicher Motors
• Motherson Sumi Systems
• MRF
• Bosch
• Ashok Leyland
• Bharat Forge
• TVS Motor
• Exide
• Amaraja Battery
• Apollo Tyre

(CMP-13,145)
#KeepItSimple

Fast Profits Daily - Bullish Breakout on Midcap Index

This is why I'm very bullish on mid-cap stocks now.

http://www.eqtm.in/d9JHg

Daily Pre-Market Analysis - 17th August | Nifty | Bank Nifty | Realty Index |

SGX Nifty Live @ 17,895

Watch out for:

1. Nifty - The 9months Trendline Breakout
2. Bank Nifty - Be Bold above 39,500-39,600 zone
3. Realty Index - Building Skyscrapers

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/qfYFxFQOzGU

The Contrarian View: Critics and Believers...

On 17 June 2022 when I posted this video, many of my professional stock market friends criticized my view of buying stocks during rising inflationary period, when there’s risk of a global recession, a war is looming, and more troubles keep mounting...

I received over 100 messages to avoid buying. Some even said ‘Save investors by not making such videos.’

I know there was extreme fear among investors at that time. But dear reader, money is made when there is extreme fear in the stock market.

Known for being a reversal trader, I stick to my Chart Patterns, and Studies that I’ve learned for years.

I may not be right all the time, but I always have a stop-loss to get out when things take a U-turn for the worse.

Investors who were on shopping spree during sale in June 2022 will be enjoying profits.

Those who waited are still waiting as markets never gave a second opportunity.

The Sensex crossed the psychological 60,000-mark today and is up by ~18% from the low of 50,921.

#Contrarian
#KeepItSimple

Paper Stocks 🔥

Hope you didn't miss the rally 📈

Video Coming Soon...

Fast Profits Daily - Goodbye US$ 100 Crude Oil

The crude oil price is very close to an important support. It could crash if it falls below it.

http://www.eqtm.in/Ca6o8

Daily Pre-Market Analysis - 18th August | Power Index - Multi-year Breakout | Nifty | S&P500 |

SGX Nifty Live @ 17,950

Watch out for:

1. Nifty - Stay bullish
2. S&P500 - Breakout from multiple resistance zone
3. Power Index - Multiyear Breakout

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/X60-Yd3I7-s

Bank Nifty above 39,555 (spot), it can be Banks Day Out!

#weeklyexpiry

Daily Pre-Market Analysis - 19th August | Bullish Market Breadth | Nifty | Breakout in Bank Nifty |

SGX Nifty Live @ 17,965

Happy Janmashtami 🙏🏻

Watch out for:

1. Nifty - Technical Breakout but OI Structure...
2. Market Breadth explained
3. Bank Nifty - Approaching 40,000

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/hGFuvRrJrhE

Daily Pre-Market Analysis - 22nd August | Nifty-Short-term Top? | Sector Analysis | Short these Stocks |

SGX Nifty Live @ 17,675

Watch out for:

1. Nifty
A. Bearish Engulfing
B. Dow Theory
C. Retest of Rising Channel Breakout
D. Trendline Breakout

2. Bank Nifty
A. Bearish Engulfing
B. Gap Area
C. Horizontal Channel

3. Sectors to buy on dips
A. Energy Index - Multiple breakouts
B. IT Index - Bargain buyers holding the index higher

4. Shorting Opportunity
A. Pharma Index - Rejection at 200DEMA

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/9PHWBaTxOZM

Bank Nifty @ Confluence of Support

1. Rising Channel (Blue)
2. Gap Area (Green)
3. 100HEMA (Orange)
4. Oversold RSI

The move above 38,535 will confirm the upward momentum while the hourly close below 38,170 will negate the structure.
(CMP-38,450)

#BankNifty
#KeepItSimple

Due to Technical reason, I'm unable to post the Daily Pre-Market Analysis video today.

Nifty - May be an Options Writers Expiry

After the stellar rally from 15,183 to nearly 18,000 levels in just 43 trading days, the last couple of days have been dreadful for bulls.

Nifty from the high of 17,992 hit the low of 17,345 today, 600pts fall in over 2 trading days.
That's the expiry volatility folks!

A range-bound expiry

Technically, the reversal has halted at 23.60% Fibonacci retracement of 15,183 to 17,992 at 17,329.

Historically, index retraces 23.60% to 38.20% after the sharp rise and consolidates for few trading sessions.

Equitymaster proprietary TruStop(TM) system indicates the index is likely to consolidate between the two averages marked on the chart.

The bulls and bears would battle between 17,189-17,675 and this is the best time for options writers to grab the opportunity.

Writers should avoid positions if it breaks out of range. Additionally, a move above 21 on India VIX can prove to be riskier setup.
(CMP-17,450)

#KeepItSimple

Daily Pre-Market Analysis - 24th August | Nifty & Bank Nifty Expiry Strategy | Bullish Candlestick |

SGX Nifty Live @ 17,550

Watch out for:

1. Expiry View on Nifty
2. Nifty - Bullish Candlestick @ Multiple support zone
3. Bank Nifty - An outperformer

Have a Profitable Day! 📈💰

#PreMarketAnalysis #KeepItSimple

https://youtu.be/5mzmByK_4NM

BankNifty resisting around the Gap area as discussed in the Pre-Market Video