BraViSa TempleTree-India Market Calls
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Except ENERGY sector all the other sectors have closed negative on a day that turned the tide of the market to bearish. NIFTY gives a negative closing with a sell signal on the Daily. Weekly mirrors it with a permission to short. Market being tight has given us an opportunity to short with a risk of 109 points. Great pattern formation has come through.
Though FINANCIALS was the weakest sector today, UTILITIES scored a bigger hit with 92% of its constituent list taking a beating. Among FINANCIALS Public Sector banks was the major hit with a 2.26% loss on its index and 96% of the listed companies closing weak. Followed by Private sector banks, which lost 2.07% on its index value and has 88% of its stock list closing weak. Housing finance managed to close flat. LICHOUSING has gained strength on the hourly. Breaking off todays high is a long opportunity again.
UTILITIES sector which was the second biggest loser on the index values but a topper on the best weakness has Power Transmission Equipment industry recording 1.60% loss in value and 1005 of its companies closing negative.
The ENERGY Sector which was the only gainer on the index value today has the Oil Drilling Industry recording 1.39% gain on its index with ONGC, GAIL and OIL giving very strong performance. Refinery Industry though closed marginally down had big movers there with BPCL and HINDPETRO recording gains.
Though FINANCIALS was the weakest sector today, UTILITIES scored a bigger hit with 92% of its constituent list taking a beating. Among FINANCIALS Public Sector banks was the major hit with a 2.26% loss on its index and 96% of the listed companies closing weak. Followed by Private sector banks, which lost 2.07% on its index value and has 88% of its stock list closing weak. Housing finance managed to close flat. LICHOUSING has gained strength on the hourly. Breaking off todays high is a long opportunity again.
UTILITIES sector which was the second biggest loser on the index values but a topper on the best weakness has Power Transmission Equipment industry recording 1.60% loss in value and 1005 of its companies closing negative.
The ENERGY Sector which was the only gainer on the index value today has the Oil Drilling Industry recording 1.39% gain on its index with ONGC, GAIL and OIL giving very strong performance. Refinery Industry though closed marginally down had big movers there with BPCL and HINDPETRO recording gains.
Long trade on daily Nifty closed with a profit of 289 points and has reversed to short. As both daily and weekly are trending, we are likely to see good moves on the shot side. Normally bear moves are faster, but this time it doesn't seem to be so. Even the hourly charts struggled a lot before giving way.
Basic materials shined bright today in the markets. Metals pack gave a robust run. Steel recording the highest industry gains with 2.70% in the BM sector followed by Paper with 2.61% gains and Aluminum giving a 1.61% gain. Ballarpur Ind and Tata Steel were top gainers here.
Hotels industry was the Highest gainer on the total industry listing with a 4.17% gain. EIH hotels single handedly managed to pull this index up with a 11.50% gain on its price. A breakout that came at 128 has seen strong runs and has more to come. Add this stock to your watch list for pull back trades.
Telecom was the second best sector today with 0.87% gains. Telecom services was one of the top 5 gaining industries today with a gain of 1.55% and the winner here was the leader of the industry, Bharti Airtel.
The topper from behind on the Sector side was Technology with a loss of 0.67%. Computer Hardware industry pulled this sector down with a loss of 1.34% on its index value. Bartronics lost close to 10% and HCL Tech lost 4.14%.
The highest losing Industry was Telecom Equipments with a loss of 1.55% on its value and the leading loser here was AGC Network losing 3.50% of its value.
Basic materials shined bright today in the markets. Metals pack gave a robust run. Steel recording the highest industry gains with 2.70% in the BM sector followed by Paper with 2.61% gains and Aluminum giving a 1.61% gain. Ballarpur Ind and Tata Steel were top gainers here.
Hotels industry was the Highest gainer on the total industry listing with a 4.17% gain. EIH hotels single handedly managed to pull this index up with a 11.50% gain on its price. A breakout that came at 128 has seen strong runs and has more to come. Add this stock to your watch list for pull back trades.
Telecom was the second best sector today with 0.87% gains. Telecom services was one of the top 5 gaining industries today with a gain of 1.55% and the winner here was the leader of the industry, Bharti Airtel.
The topper from behind on the Sector side was Technology with a loss of 0.67%. Computer Hardware industry pulled this sector down with a loss of 1.34% on its index value. Bartronics lost close to 10% and HCL Tech lost 4.14%.
The highest losing Industry was Telecom Equipments with a loss of 1.55% on its value and the leading loser here was AGC Network losing 3.50% of its value.
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NIFTY rests on 5360 support now. Though this is a strong support, the build up strength on the indicators show more weakness on the index. Many long positions on the index stocks as well as outside the index have been squeezed.
many stocks on the component list on NIFTY are direction less, while the high beta stocks are clearly bearish. Both the leaders on the Beta list DLf and JP are recording more and more strength with every low. Daily charts of these stocks show more downward pressure.
many stocks on the component list on NIFTY are direction less, while the high beta stocks are clearly bearish. Both the leaders on the Beta list DLf and JP are recording more and more strength with every low. Daily charts of these stocks show more downward pressure.
A great example of a very clear signal too having an equal probability in trading has come through in NIFTY today. After giving strong weakness signal, it just took off on a bullish note. Closing strongly positive and along with that changing the direction of the market to non-trending.
Hourly chart gets into a pretty strong bull move with MACD Histogram moving past previous peak giving a multiday High. Short trade in progress on the Daily charts has taken a strong reversal, stop is now quite near to our current closing, the position is to be held with entry stop.
Hourly chart gets into a pretty strong bull move with MACD Histogram moving past previous peak giving a multiday High. Short trade in progress on the Daily charts has taken a strong reversal, stop is now quite near to our current closing, the position is to be held with entry stop.
A stunning performance from Basic materials and Telecom lifted up the index today making it range bound. Basic materials gave a 2.77% rise in value with topped by Mining Minerals Industry recording 4.42% gains and followed by Aluminum recording 4.28% gains. Hindustan Copper 17.68% gains and HINDALCO with a 4.72% gains.
Telecom Sector followed second with a 2.71% gains. Telecom services giving 3.23% gains with almost all the front runners recording positive close.
Telecom Sector followed second with a 2.71% gains. Telecom services giving 3.23% gains with almost all the front runners recording positive close.
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