morning thoughts...
The markets traded below the crucial levels and maintained enough swings between the suggested levels so now as the breach of 10200 is viable the markets looks weak and may slip further , it may witness occasional bounce but the strategy remains to sell on rise as many stocks are showing breakdown on charts , some of which we had mentioned yesterday
Technically the markets ought to follow disperse pattern and 10300 becomes a resistance for nifty and 24500 for bank nifty , the supports are below the 30 dema
The more concentration factor is specific stocks and sectors where the pressure is more likely and many stocks may witness a sudden crack so we would advise or refrain from bottom fishing or buying dips as per strategy and look to sell on rise and buy put options or sell futures
One must keep in view the volatility will be very high and one must be quick in thier trades or else stoplosses will get hit due to double side movement of the markets
The derivatives data on pcr segment is equally inflammed , so for high beta stocks the strategy is sell on rise and buy on dips in defensive
From past many months no major movements have been witnessed in commodities and they have followed a very tight range and consolidation period , the same is likely to continue in bullions , base metals and energy
Stocks to watch
Sell nifty and bank nifty on rise to all resistances
Buy yes bank 300 pa , ktk 110 pa ( we have mentioned yesterday about break down in this stocks)
Sell dish tv , jindal steel , hindalco ( breakdown stocks)
Buy balrampur chini 90 pa , lic 480 pa ( breakdown stocks)
Sell gold , silver , crude
The markets traded below the crucial levels and maintained enough swings between the suggested levels so now as the breach of 10200 is viable the markets looks weak and may slip further , it may witness occasional bounce but the strategy remains to sell on rise as many stocks are showing breakdown on charts , some of which we had mentioned yesterday
Technically the markets ought to follow disperse pattern and 10300 becomes a resistance for nifty and 24500 for bank nifty , the supports are below the 30 dema
The more concentration factor is specific stocks and sectors where the pressure is more likely and many stocks may witness a sudden crack so we would advise or refrain from bottom fishing or buying dips as per strategy and look to sell on rise and buy put options or sell futures
One must keep in view the volatility will be very high and one must be quick in thier trades or else stoplosses will get hit due to double side movement of the markets
The derivatives data on pcr segment is equally inflammed , so for high beta stocks the strategy is sell on rise and buy on dips in defensive
From past many months no major movements have been witnessed in commodities and they have followed a very tight range and consolidation period , the same is likely to continue in bullions , base metals and energy
Stocks to watch
Sell nifty and bank nifty on rise to all resistances
Buy yes bank 300 pa , ktk 110 pa ( we have mentioned yesterday about break down in this stocks)
Sell dish tv , jindal steel , hindalco ( breakdown stocks)
Buy balrampur chini 90 pa , lic 480 pa ( breakdown stocks)
Sell gold , silver , crude
