Skip to main content

Pre Market Analysis for 16th and 19th October

 

  1. US markets closed lower.
  2. When our markets closed here yesterday, Dow future was down more than 300 points.
  3. But Dow recovered most of the losses to close just 20 points lower.
  4. Asian markets are mixed.
  5. We must remember, problem started after European market opened, by that time East Asian markets are closed.
  6. So East Asian markets did not react negatively yesterday for Europe lockdown fear, US Stimulus problem.
  7. Indian markets were OK until 1 pm and markets fell drastically after 1 pm only.
  8. Yesterday's market was similar to Sep 24.
  9. Even HDFC Bank fell Rs 50 and that is too much.
  10. This is a profit booking ahead of results.
  11. MindTree came with good results, profit up 88%.
  12. But it was under trading ban, so could not take position.
  13. HCL Tech is likely to report its results today morning.
  14. Sometimes they declare before market hours and sometimes after market hours.
  15. I have not taken any position.
  16. I just did 860 short straddle in one of my friend's account.
  17. But IV has come down already.
  18. FIIs have sold for Rs 600 crores and DIIs have sold for Rs 800 crores in Cash market.
  19. But the sell figures are not so bad.
  20. Right now SGX Nifty is trading around 11760, about 85 points higher.
  21. Yesterday's fall seems to be a knee jerk reaction to Europe Corona virus resurgence.
  22. Also expiry related issues played havoc.
  23. I also lost heavily due to expiry trades.
  24. That is part and parcel of trading game.
  25. Banking stocks will be in focus ahead of HDFC Bank results.
  26. Bank Nifty fell 1150 points from intraday high yesterday.
  27. If yesterday's low is not broken today, then yesterday's low could be the low for this expiry.
  28. Markets may consolidate and trade between 11660 and 12025 with huge volatility.
  29. 11661-12025 was the yesterday's Nifty spot range.
  30. Reliance is struggling between 2200 and 2300 for a long time.
  31. That is despite so many incremental positive news.
  32. We can expect some sharp up move towards the end of the day.
  33. Nifty future may trade between 11675 and 11880.
IMPORTANT : keep watching Granules India , Laurus labs, SYNGENE, ROSSARI ,it will be a life time opportunity for a horizon of 3-4 months, i will write a separate write up on the same .
Labels:

Comments

Post a Comment

Popular posts from this blog

STOCK CHART PATTERNS

  Stock chart patterns   are simply a visual representation of the prices buyers and sellers bought and sold at in the past. There is no magic in a chart pattern they just show you what happened in the past and what has a higher probability of happening in the future. The best use of chart patterns is to take a wider view of the trend on your time frame of choice and follow the path of least resistance.  A chart pattern can show that a stock is in a range with defined resistance and support. A chart could also show an uptrend of higher highs and higher lows or a downtrend of lower highs and lower lows. Stock chart patterns signal whether a stock is under accumulation or distribution or just trading in a defined price range.  The most popular use of stock chart patterns is for breakout trading signals as the probability increases of a move in a specific direction after a price breakout of a previous support or resistance. They are basically momentum indicators. The va...
Post a Comment
Read more

Stock Screener Settings for Top Growth Stocks

  One of the best stock screening filters for finding growth stocks are the parameters of the CAN SLIM Investing System that was created by William J. O’Neil. These parameters were quantified by his study of the fundamental company metrics of the largest winning stocks in the history of the U.S. stock market going back over 130 years. The stocks that historically met these guidelines were the ones that eventually created the majority of the Alpha in the stock market over the long term during bull market cycles. He looked for the fundamentals that companies in the first stages of big growth cycles possesed.  The CAN SLIM Investing System looks for specific fundamental measurements of a company’s strength of earnings and sales along with its growth rate. It also considers more discretionary company filters like innovative products or business models along with good management.  A CAN SLIM fundamental filter is a great place to start if you are looking to build a w...
Post a Comment
Read more

Pre Market Report, Jan 29, 2021

  US markets closed higher. But it has given up half of the gains in last hour. Asian markets are mostly positive. SGX Nifty crossed 14050 yesterday night but now trading around 13970. Still this will be a gap up of more than 100 points. Nifty has fallen more than 1000 points intra month in Jan series. Bank Nifty has fallen more than 3000 points intra month in Jan series. Last month FIIs began with more than 75% long in F&O. This month it is only 62%. Markets are light going in to budget. Decissive direction will be set only after budget. For very short term, 50DMA of 13700 is a good support. Yesterday markets took support near 13700. Pharma stocks will be in focus as many pharma stocks will declare results. Moreover when overall markets are weak, pharma and FMCG tend to do well. Whenever huge selling happens in bluest of blue chip stocks like HDFC Bank and HDFC, the bottom is somewhere near. Yesterday I could feel that, at the same time, markets may not rally from here. Market...
Post a Comment
Read more