Upbeat: Metals, Auto & Auto Ancilliaries, Oil – All kinds, Shipping, Pharma
Neutral: Banks, Sugar , Real Estate
Downbeat: IT
Overall market direction: Rangebound between 5750 and 5950. The undertone is bullish. In the F&O
segment, 43 stocks are in a strong uptrend (ADX14 > 30 and DMIPlus14 > DMIminus14) while just 3 are in a strong downtrend.
Trading Strategy: Short term traders should go with intra day trades until a breakout in either direction.
Position Traders should buy for a few days/weeks since many stocks are giving signs of bullish bases / patterns. Short selling above 5750 is not recommended.
No comments:
Post a Comment