A trader who looks for short-term gains, hold positions for a week or fortnight.
The trend looks weak below 5,000 levels for the Nifty Auto index. Although the current formation claims consolidation with lower support around 4,600 levels, the trend remains short on upward rallies
Nifty PSU Bank index is showing a consolidation in the range of 1,600 to 1,200 levels. On the other hand, 22,000 mark is crucial for Nifty Bank.
Whenever a stock shows a consolidation pattern, one needs to wait for the breakout.
While taking a bigger perspective on the trend, the daily volume chart might not perfectly depict the scenario. The weekly, monthly or year volumes chart facilitate in taking a call on the same
Whenever the Nifty pharma index has dipped below oversold territory on the Relative Strength Index (RSI), it has seen a stable rise.
Mindtree will see an upside bias once it breaks out above Rs 920 levels
On a year-to-date basis, the benchmark Nifty is down around 14 per cent
Barring Wipro, all the other major tech companies have outperformed the benchmark Nifty50 index which has slipped 7.6 per cent till date in 2020
The study of the same recurring patterns in the financial markets assists in developing trading strategies
Relative Strength Index (RSI) determines trend strength by identifying the oversold and overbought condition
The Nifty 50 is trading around 200-DMA; if the selling pressure mounts then the index may see big selling pressure on stocks
The overall trend in the paint stocks remains bullish and any corrective move may see buying opportunities.
Simply put, a stop-loss is designed to limit an investor's loss on a stock. Setting a stop-loss order for 15 per cent below the price at which you bought the stock will limit your loss to 15 per cent.
The benchmark indices are holding the positive sentiment
Except Sun Pharma and Lupin, others have grown significantly and are showing less reversal signals.
Major hits were seen in front runners such as ACC Ltd, Ashok Leyland, and HDFC.
A candlestick defines the price movement and depending on the formation, one can determine the current sentiment and predict a trend.
Most stocks are witnessing selling pressure at higher levels. If that gets conquered, a fresh upside of 3-5 per cent is expected to happen.
Except Voltas and Britannia, others may see selling pressure on every upside.