Sunday, 24 September 2017

Indices ready to make new all time highs....

Despite North Korea, Fed, non-repeal of Obamacare & NFL controversy, we are all set to make new all time highs in indices.

Here is the RSI picture of strongest and weakest sector / index :

XLE        77.13

RUT       71.25

DOW      67.49

S&P 500 62.98

SOX       62.97

TAN      56.46

Nasdaq   55.57

GLD       45.18

I am sure most of you are surprised by the most strongest sector, which is energy.

Another surprise is that Nasdaq is the 2nd weakest sector.

Russell is 2nd most in terms of strength.

The above list reflects changes  / rotation in this market.

Nasdaq weakness and weakness in many Chinese stocks are an opportunity to buy before they take off.

FANG weakness is known to everyone.

Rotation and strategic buying has been the right approach.

VIX is near 52 wk low and may go to new all time low very soon, this reflects current buying momentum and changes in investment strategies, namely rotation buying.

VIX near all time low and Nasdaq being the weakest, has never happened before in my memory.

Fed is moving very gradually with $10 billion to gradually moving to $50 billion in unwinding their MBS. This will not disrupt interest rates in the market place.

SO....all is set for a spirited buying in indices and stocks.

We may be starting a "new bull run ".....

Good luck with your own take of current market.

BLOG does NOT give buy or sell.

Saleem


These Dividend Growth Stocks Go Ex-Dividend Next Week



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Nifty Weekly Forecast for Sep Expiry

Last Week we gave Chopad Levels  of 10092,  Nifty opened above the chopad level, Hence chopad followers were unable to take trade till Wednesday. On  Thursday Both Short and Long Triggered got Stop out and than patience and Discipline of Chopad Followers paid of on Friday with Nifty High of 10095 and did 2 target on downside as crucial trend change date of 23 Sep showed its effect, So

Saturday, 23 September 2017

Sensex, Nifty charts (Sep 22, 2017): bulls forced to retreat after strong attack by bears

FII net selling in equities touched a huge Rs 54.5 Billion during the week. DII net buying in equities was worth Rs 35.8 Billion, as per provisional figures. Both indices closed lower - Sensex by 1.1%, Nifty by 1.2%.

Despite the heavy selling by FIIs in equities, India's foreign exchange reserves rose by $1.8 Billion to $402.5 Billion - thanks to heavy inflows into debt.

A recent spate of infrastructure project announcements by the government - like bullet train and industrial corridors - is expected to kick-start the credit and investment cycle that will benefit the banking sector, as per a statement by the SBI chairperson.

BSE Sensex index chart pattern


The following warning bell was sounded in last week's post on the daily bar chart pattern of Sensex: "Some more consolidation within the 'flag' and a breakout below it are possibilities."

The index faced strong resistance from the upper edge of the 'flag' pattern on Mon. & Tue. (Sep 18 & 19). On Tue, it formed a small 'reversal day' bar (higher high, lower close) that triggered a sharp correction.

The index closed below its 20 day EMA but above its 50 day and 200 day EMAs in a bull market. More importantly for bulls, it closed within the 'flag' pattern.

Daily technical indicators are in bullish zones but turning bearish. MACD is falling towards its signal line. ROC has crossed below its 10 day MA. RSI and Slow stochastic have fallen down from their respective overbought zones. 

Bulls may try to prevent a fall below the 'flag', but selling by bears may overwhelm them. Expect support from the 30700 level, and below it from the rising 200 day EMA.

The NDA government has admitted its failure on the economic front by announcing a fiscal stimulus. Recent IPOs have absorbed surplus cash that could have been invested in the secondary market.

The index recovery after the correction is likely to be 'U' shaped rather than 'V' shaped. In other words, there is no need to rush in to buy the current dip.

NSE Nifty index chart pattern


The weekly bar chart pattern of Nifty touched a new high of 10179, but closed 120 points lower for the week, forming a 'reversal' bar. The previous 8 weeks' trading has formed a large 'rising wedge' pattern from which the likely breakout is downwards.

The 20 week and 50 week EMAs are rising, and the index is trading above them in a bull market. However, with FIIs selling heavily, a fall below the 'wedge' and the 20 week EMA appears likely.

Weekly technical indicators are in bullish zones but showing downward momentum. MACD is sliding below its signal line inside overbought zone. ROC has dropped towards its neutral zone. RSI and Slow stochastic are below their overbought zones and drifting down.

Nifty's TTM P/E has slipped a bit from last week to 25.95, which is still much higher than its long-term average. The breadth indicator NSE TRIN (not shown) is trying to emerge from its overbought zone and can trigger some more correction.

Bottomline? Sensex and Nifty charts have been consolidating sideways within bearish patterns, and look poised to breakout below the patterns. DII buying has been overwhelmed by FII selling. Any fiscal stimulus may further stoke inflation and widen the fiscal deficit. This may be a good time to stay away and let the correction play out.

SQUARING HINDUNILEVER UPDATED 22/09/2017 EOD....


SQUARING HINDUNILEVER UPDATED 22/09/2017 EOD....

SQUARING PRICE SHOWN ON CHART...

HAPPY TRADING !!!

Analysis given with mandatory disclosure given on site on 03/12/2014.
Please read it before taking any trading decisions...

Weekly Market Snapshots- 25 Sept Monday Tomorrow Stock Nifty Future Recommendation

Weekly Reports- The Stock market corrected last week due to negative global cues triggered profit booking. The BSE Sensex ended at 31922.44, down 447.6 points, or 1.4%. The NSE Nifty lost 157.5 points, or 1.6% to 9964.4. Both indices posted their most awful single day fall since the last ten months. 

The key benchmark indices fell in 4 out of 5 trading sessions. The stock markets endured their most horrible setback on concern that the govt’s stimulus plan for the economy could disturb the fiscal sums, and hurt the rupee and interest rates. 

On the week ended Friday, there were four falling stocks for each one advancing. The BSE Midcap index declined close to 3%. Real estate, Metals and realty were the worst performing sectors. 

Tomorrow 25 Sept Monday Stock Nifty Future Recommendation 
BUY TVTODAY ABOVE 365 TARGETS 369 , 373 , 377 STOPLOSS 357
BUY WHEEL ABOVE 1500 TARGETS 1515, 1530, 1545 STOPLOSS 1470
BUY VAKRANGEE ABOVE 517 TARGETS 522, 527, 533 STOPLOSS 507


Get More Calls For Tomorrow >>> CLICK HERE

Weekly Market Snapshots- 25 Sept Monday Tomorrow Stock Nifty Future Recommendation

Weekly Reports- The Stock market corrected last week due to negative global cues triggered profit booking. The BSE Sensex ended at 31922.44, down 447.6 points, or 1.4%. The NSE Nifty lost 157.5 points, or 1.6% to 9964.4. Both indices posted their most awful single day fall since the last ten months. 

The key benchmark indices fell in 4 out of 5 trading sessions. The stock markets endured their most horrible setback on concern that the govt’s stimulus plan for the economy could disturb the fiscal sums, and hurt the rupee and interest rates. 

On the week ended Friday, there were four falling stocks for each one advancing. The BSE Midcap index declined close to 3%. Real estate, Metals and realty were the worst performing sectors. 

Tomorrow 25 Sept Monday Stock Nifty Future Recommendation 
BUY TVTODAY ABOVE 365 TARGETS 369 , 373 , 377 STOPLOSS 357
BUY WHEEL ABOVE 1500 TARGETS 1515, 1530, 1545 STOPLOSS 1470
BUY VAKRANGEE ABOVE 517 TARGETS 522, 527, 533 STOPLOSS 507


Get More Calls For Tomorrow >>> CLICK HERE

 
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