state of the market oct 21 2014
DESCRIPTION
Reading the Technical Health of Indian marketTRANSCRIPT
Technical Reading of Indian MarketOctober 21 2014
Deepak SinghTwitter id: @smarket
Global Markets going up again
Nobody can escape the short-term insanity of this
market
State of Nifty
Will Reliance get the support at current levels?
Earlier Resistance: 900-920
Now 900-920
should act as support
Trading Strategy: 22% Upside 4.5% downside
Long on Reliance at 930 with stop loss at 890 and target of 1140
Duration: 4 months
Probability of success: Medium to Low
Now 900-920
should act as support
Large Cap IT: Avoid
Large Cap IT has got mixed response post results. The sector seems to be under pressure but keep an eye on mid cap IT
Hexaware manages a decent bounce
Hexaware jumped from 170 to 189 in 2 days flat
The real Bull Market is in
Oil and Gas Sector – PSU stocks
HPCL: Buy on declines
BPCL: Buy on declines
Here’s one stock that collapsed because of fall in Crude Oil
The stock is Cairn
One sector that market hates
Real Estate
But there are exceptions. Market likes Sobha Developers
Can HCC rally now? Maha election over
McDowell: Is something cooking
Traders will be watching for follow through: High Risk Trade
Berger Paints: Looking for Support
Will Buy the dip crowd – Buy?
M&M: Is stock in for deeper correction?
Can Reliance Capital recover?
Can Reliance Capital recover?
PI Ind: Strong Bounce in works
Ambuja Cement: Ready for big move
WAITING FOR BREAKOUT
We see the market as we want to see it, not as it existsMake Believe world
Thank You
• Disclaimer - The state of the market presentation is Deepak's perspective on the market. The presentation is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this presentation you agree to make no trade relying in whole or in part on the comments of the writers
• Chart Source: Chartalert.com
• If you have any question about the presentation: send me an email at [email protected]
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• Twitter id: @smarket