Thursday, September 8, 2016

morning thoughts...

The markets remained extremely volatile and swayed like a pendulum throughout the day with limited activity in index and major activity in stock specific throughout the board.
As the put call ratiov- pcr moves to 18 days high with macd at 38 days high with 30 dema and 60 dema colliding with albert penne formation on gann daily charts - a session of profit booking is not ruled out and thier can be immediate buying at lower levels as nifty has cushions around 8825 levels and speed breaker at 9090 levels whereas bank nifty will find supports at 20150 levels and resistance at 20700 levels.
Technically the markets have seen a good move and requires time to consolidate and spend some time at the levels mentioned.
Amongst the volatilty of index stock specific activities will continue and its the space where maximum profits will be made.
Coming to the commodity markets bullions will see some pressure whereas positive bias will be seen in energy and base metals.

Yesterdays calls sent