BASIC MATERIALS was King today
As we wrote in the pre-market post, it was BASIC MATERIALS which shined bright in todays recovery with a 2.60% gain on its index. It was followed by HEALTHCARE at 2.44% and CONSUMER GOODS at 2.25% on the winners lineup. The under performing sector today was CONSUMER SERVICES with a dismal 0.22% gains. Diamonds continue their down hill ride with a further loss of 2.12% on their index.
Aluminum was the star today with a 6.88% gain on its index, all the gains were made by HINDALCO, between 156 & 163 short HINDALCO on a down tick. It would be humorous to read a short call in the bullish write up, this entire move up is the reason to reach value, while the charts are with very high bearish strength. Those who are watching the bear hammering of the markets, dropping their jaws down need some part of the pie right! And this is the opportunity for them.
TITAN goes off from buy signal on the daily, if todays low gets taken off. It has had a wonderful rally from 1515 to 2110 a near 39% gain, this is on the daily charts, while its weekly chart is still pretty strong rising from 918.00, the value zone for TITAN on the weekly is 2020-1830. On reaching here, we can go long on this hi-flyer.
On the weaker side Plantation and Transport Industries followed Diamonds. Most of the weekly charts in these Industry groups are in the bearish trend.
As we wrote in the pre-market post, it was BASIC MATERIALS which shined bright in todays recovery with a 2.60% gain on its index. It was followed by HEALTHCARE at 2.44% and CONSUMER GOODS at 2.25% on the winners lineup. The under performing sector today was CONSUMER SERVICES with a dismal 0.22% gains. Diamonds continue their down hill ride with a further loss of 2.12% on their index.
Aluminum was the star today with a 6.88% gain on its index, all the gains were made by HINDALCO, between 156 & 163 short HINDALCO on a down tick. It would be humorous to read a short call in the bullish write up, this entire move up is the reason to reach value, while the charts are with very high bearish strength. Those who are watching the bear hammering of the markets, dropping their jaws down need some part of the pie right! And this is the opportunity for them.
TITAN goes off from buy signal on the daily, if todays low gets taken off. It has had a wonderful rally from 1515 to 2110 a near 39% gain, this is on the daily charts, while its weekly chart is still pretty strong rising from 918.00, the value zone for TITAN on the weekly is 2020-1830. On reaching here, we can go long on this hi-flyer.
On the weaker side Plantation and Transport Industries followed Diamonds. Most of the weekly charts in these Industry groups are in the bearish trend.