morning thoughts...
The markets remained rangebound throughout the last session and same pattern is likely in the coming session with high volatility
Technically the markets are in consolidation move and a probable two side movement is likely and traders need to be quick in action as stoplosses on both long and short side may get hit due to volatility and dual side moves, high beta and rsi stocks remains favourites and must be picked based on thier pcr and oi addition or shed in derivatives segment
Few sectors and stocks which falls in this category are steel, auto , engineering, chemicals looks good and strong
High rsi and picks includes hero motocorp, voltas , gnfc , tata global , repco homes , jindal steel , jsw steel for long trades
However weakness is seen in omcs and IT like bpcl., hpcl , ioc
The markets will now be very deceptive and we are not far from the sudden steep awaited move of the index and it will not be a replica of previous moves , it will be very sudden , sharp and a strong refresher for bulls or bears..?
The derivatives markets continues to hover around 1.15 pcr and squeeze angle of 48 bcr and macd of 11 which is very different from previous data and years so we must be ready for the surprise soon as reflected by data
The commodities markets remaines plunged and subdued with range bound trades in base metals , bullions and energy
The markets remained rangebound throughout the last session and same pattern is likely in the coming session with high volatility
Technically the markets are in consolidation move and a probable two side movement is likely and traders need to be quick in action as stoplosses on both long and short side may get hit due to volatility and dual side moves, high beta and rsi stocks remains favourites and must be picked based on thier pcr and oi addition or shed in derivatives segment
Few sectors and stocks which falls in this category are steel, auto , engineering, chemicals looks good and strong
High rsi and picks includes hero motocorp, voltas , gnfc , tata global , repco homes , jindal steel , jsw steel for long trades
However weakness is seen in omcs and IT like bpcl., hpcl , ioc
The markets will now be very deceptive and we are not far from the sudden steep awaited move of the index and it will not be a replica of previous moves , it will be very sudden , sharp and a strong refresher for bulls or bears..?
The derivatives markets continues to hover around 1.15 pcr and squeeze angle of 48 bcr and macd of 11 which is very different from previous data and years so we must be ready for the surprise soon as reflected by data
The commodities markets remaines plunged and subdued with range bound trades in base metals , bullions and energy
