BraViSa TempleTree-India Market Calls
- Thread starter d_s_ramesh
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In a lack luster move today, though NIFTY managed to close positive, there seems to be not much strength in it to maneuver further on the bullish side. Daily short trades gets closed with a stop trigger and has lost 108 points. Daily chart of NIFTY has turned trendless, this means price will keep moving within the range that has been formed now 5500-5350, maybe it can extent a little on the higher side. But every move up will attract selling pressure.
Hourly chart is trending bullish, has retraced bearish divergence on the histogram, while MACD is rising. This show that there is some more steam left before any weakness could set in.
Sectors today:
Mirroring the index moves, none of the sectors had any good move; the best among the movers today was Financials with a gain of 0.98% on its index value. Housing finance industry lead the rally with a 1.40% gain on its index followed closely by Private sector Banks and Term lending institutions. IOB recorded 7.01% gains and topped the financial sector gainers.
Telecom was the weakest today losing 0.71% on its index value. Telecom Cables industry gave back 3.86%, losses from Sterlite Tech of 5.11% on its value was a big drag on this index and that was followed by weakness in the Telecom Services Industry losing 0.82%. The leader Bharthi giving back 1.05% of its gains were followed by minor weakness on the frontline telecom services stocks.
Hourly chart is trending bullish, has retraced bearish divergence on the histogram, while MACD is rising. This show that there is some more steam left before any weakness could set in.
Sectors today:
Mirroring the index moves, none of the sectors had any good move; the best among the movers today was Financials with a gain of 0.98% on its index value. Housing finance industry lead the rally with a 1.40% gain on its index followed closely by Private sector Banks and Term lending institutions. IOB recorded 7.01% gains and topped the financial sector gainers.
Telecom was the weakest today losing 0.71% on its index value. Telecom Cables industry gave back 3.86%, losses from Sterlite Tech of 5.11% on its value was a big drag on this index and that was followed by weakness in the Telecom Services Industry losing 0.82%. The leader Bharthi giving back 1.05% of its gains were followed by minor weakness on the frontline telecom services stocks.
Thanks for the Call Ramesh... would you get time to all put in the "rationale" behind the call.... help people like me to brush up and learn further in TA... things like Buy becoz of >MA or Stochastic Buy or RSI divergence.... also how the calculation of Target.... fibonaci or is it a B/O from a Triangle.. etc. Of course you as it is you are already devoting a huge time for others so do it only if you can spare some time. Wont mind if you cannot not.
Thanks rkkarnani,
Raymond call was not triggered today, but it is still a valid buy. Weekly of Raymond is highly bullish and trending, and the daily mirrors the same with price retracing to value from a peak. The same with its MACD. A re-test of previous high or beyond is a possibility. I have taken the channel high as target in this trade.
The signal continues to be long above today's high with stop remaining at the same levels.
Raymond call was not triggered today, but it is still a valid buy. Weekly of Raymond is highly bullish and trending, and the daily mirrors the same with price retracing to value from a peak. The same with its MACD. A re-test of previous high or beyond is a possibility. I have taken the channel high as target in this trade.
The signal continues to be long above today's high with stop remaining at the same levels.
NIFTY closed down with a small weakness, while being non-trending on the daily , trending flat on the weekly and trending bullish on the Hourly. With the US markets closing positive for the weekend, there are possibilities for us to re-test the previous high and turn weak from there. That would coincide with weekly and hourly giving permission to short, while Daily has the option to snap back into its range.
Daily short trade was stopped out. The long trade which is in progress on the hourly is hovering in the value zone; our hourly bull has got its back broken, though it has strength to run. It cannot go very far from here. So the next move upwards will be the last on the present bullishness on the hourly.
The next drop on NIFTY can be a big one as many frontline stocks too will join the race, most of which are also in their last leg runs on the bullish side.
Sector performance on Friday.
The best sector of the day was Consumer Services, with a 1.04% gain on its index. Hotels with 2.01% gains and Retail Industry with a 1.79% gains were the toppers in this sector. Diamonds Industry closed weak with all the stocks in its list closing negative. TV Today and Trent were stars with an above 5% gain on their values.
Second best sector of the day was Telecom with a 0.84% gain and Tele Cables Industry saw a big reversal and was a topper here with a 2.30% gain on its index. Sterlite Tech gave a good pull pack to close positive by 2.66%
Energy Sector was the weakest losing 0.47% on its index value. Refineries were big losers today giving back 1.19% of its index value with HINDPETRO leading the pack having a 3.53% drop in its value. While Oil drillers managed to close positive gaining 0.91%, but were not able to make a big impact. Indrapasta gas recorded 2.88% gains while ABAN recorded 2.09% gains.
The leader on the industry side was the Detergents industry with an above 9% gain. NIRMA had a stunning performance today with a 10.70% gain on its price. Followed by Fertilizer Industry recording a gain of 3.58% lead by National Fertilizers and Deepak Fertilizers.
Daily short trade was stopped out. The long trade which is in progress on the hourly is hovering in the value zone; our hourly bull has got its back broken, though it has strength to run. It cannot go very far from here. So the next move upwards will be the last on the present bullishness on the hourly.
The next drop on NIFTY can be a big one as many frontline stocks too will join the race, most of which are also in their last leg runs on the bullish side.
Sector performance on Friday.
The best sector of the day was Consumer Services, with a 1.04% gain on its index. Hotels with 2.01% gains and Retail Industry with a 1.79% gains were the toppers in this sector. Diamonds Industry closed weak with all the stocks in its list closing negative. TV Today and Trent were stars with an above 5% gain on their values.
Second best sector of the day was Telecom with a 0.84% gain and Tele Cables Industry saw a big reversal and was a topper here with a 2.30% gain on its index. Sterlite Tech gave a good pull pack to close positive by 2.66%
Energy Sector was the weakest losing 0.47% on its index value. Refineries were big losers today giving back 1.19% of its index value with HINDPETRO leading the pack having a 3.53% drop in its value. While Oil drillers managed to close positive gaining 0.91%, but were not able to make a big impact. Indrapasta gas recorded 2.88% gains while ABAN recorded 2.09% gains.
The leader on the industry side was the Detergents industry with an above 9% gain. NIRMA had a stunning performance today with a 10.70% gain on its price. Followed by Fertilizer Industry recording a gain of 3.58% lead by National Fertilizers and Deepak Fertilizers.
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