Thursday, October 6, 2016

morning thoughts...

A cluster of put writers gathers at 8800 levels with a push up at 8900 levels and falling call writers at 8500 levels with rising put call ratio pcr at 1.16 and proportionate macd on 7 days and 30 dema indicating a probable two side movements in markets with sell and pressure at higher levels and individual stocks might suddenly lose gains , many stocks on high beta rsi stands ripe for buy on dips in volatility.
Private banks are trading weak on charts with strength in psu banks which will keep bank nifty swinging both ways with the strategy to buy on dips to 19300 with sl at supports to 19050 and sell on rise to resistance at 19900 levels.
As jupiter and mercury comes in trine a possible move in realty , individual banks and auto will see good movements
Technically the markets will follow the aforesaid levels and will remain highly volatile
Coming to the commodity markets bullions remians weak and is a sell on rise , energy and base metals looks positive for buy on dips

Thursday wealth gains

Sell nifty and bank nifty on rise
Buy jp infra
Sell gold , silver
Buy crude , copper , zinc
Operator buy igl 840 ca
Futures sell axis bank , yes bank
Buy dlf 160 ca , hdil 85 ca