MARKET ROAD AHEAD.WILL THIS BOUNCE SUSTAIN????

Yesterday Nifty bounces back with intensity and keeps the hope alive of Bulls.Day before Yesterday Nifty cracked below 200 dma and there was apprehension and concern on what might happen next: A false breakdown or case of falling knife? Yesterday’s Nifty  up move has been source of comfort for medium term investors. This is what Nifty did yesterday

Why this up move does not sound exciting? Look at the provisional buy/sell data

For medium term investors – Nifty is still buy on dips. Reason: Nifty held support of 50 week moving average. Remember, for medium to longer term traders/investors: weekly chart is all that matters.

Here’s Nifty weekly chart

As long as Nifty trades above 8170, there is nothing to worry over medium term, and market has potential to undo the technical damage it has done in recent past. Keep an eye on 8170 on the downside and HOPE for rally back to 9000. Will that happen? Well only time will tell.Considering this is F&O expiry week? Expect more drama and two sided action going ahead. That’s not all: US Fed meeting is tomorrow and that can impact Global market environment

What pulled the market up? – BANK NIFTY. It was right at support and did all the bullish work to save the Nifty

1.The Star performer of the Day: ICICI Bank. Will the up move continue(MAIL SENT TO PAID CLIENTS.Mail sent to buy one more leadership banking stock

      2. MARUTI: STOCK MADE FRESH ALL TIME HIGH( HOW TO TRADE MARUTI MAIL       SENT TO PAID CLIENTS)we have picked one more auto stock for our paid clients

    3.One stock that has registered its strength in current market decline: L&T Detailed mail with positional buy call given to  paid clients

USDINR has created a strong resistance at 63.91. Today, INR appreciated strongly from resistance levels and now trading at 63.07. That’s a sharp pull backThere can be real Panic  if USD strengthens above 63.91. Keep an eye on that level.INR will shoot up tpo 65-66 once 63.91 is taken out

IT STOCKS:

Most of the frontline Tech stocks have pulled back and are at good support levels. Can they provide support to the market? 3 IT STOCKS RECOMMENDED TO PAID CLIENTS 

PHARMA STOCKS:

3 PHARMA STOCKS   POSITIONAL BUY CALL GIVEN TO PAID CLINETS.Will be sharing one of those to subscribers of this blog.

SUNPHARMA has been a market leader of this bull market Stock is right at good support level.BUY sun pharma positional call 910-925 add sunphara more @ 870 levels too if it comes  with sl 860 on closing basis with 1200 RS target in next 2-3 months time. 

CEMENT STOCK

The sector to keep an eye on: Cement. Most of the Cement stocks be it ACC, Ambuja Cement or Ultratech Cement: all at key moving average i.e. 200 dma. Will they hold and bounce? Well, yes if market has to remain bullish.

Ambuja Cement has formed a long legged doji at 200 dma: looks like a selling exhaustion. Bulls can hope for long trade with stop loss below 225.

If the markets were certain then there would be no markets. No one can give you a 100% guarantee of what market will do; all we know is what it can do.The trouble with most of us is that we think with our hopes or fears or wishes rather than with our minds