state of the market oct 21 2014
DESCRIPTION
Reading the Technical Health of Indian marketTRANSCRIPT
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Technical Reading of Indian MarketOctober 21 2014
Deepak SinghTwitter id: @smarket
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Global Markets going up again
Nobody can escape the short-term insanity of this
market
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State of Nifty
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Will Reliance get the support at current levels?
Earlier Resistance: 900-920
Now 900-920
should act as support
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Trading Strategy: 22% Upside 4.5% downside
Long on Reliance at 930 with stop loss at 890 and target of 1140
Duration: 4 months
Probability of success: Medium to Low
Now 900-920
should act as support
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Large Cap IT: Avoid
Large Cap IT has got mixed response post results. The sector seems to be under pressure but keep an eye on mid cap IT
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Hexaware manages a decent bounce
Hexaware jumped from 170 to 189 in 2 days flat
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The real Bull Market is in
Oil and Gas Sector – PSU stocks
HPCL: Buy on declines
BPCL: Buy on declines
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Here’s one stock that collapsed because of fall in Crude Oil
The stock is Cairn
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One sector that market hates
Real Estate
But there are exceptions. Market likes Sobha Developers
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Can HCC rally now? Maha election over
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McDowell: Is something cooking
Traders will be watching for follow through: High Risk Trade
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Berger Paints: Looking for Support
Will Buy the dip crowd – Buy?
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M&M: Is stock in for deeper correction?
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Can Reliance Capital recover?
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Can Reliance Capital recover?
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PI Ind: Strong Bounce in works
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Ambuja Cement: Ready for big move
WAITING FOR BREAKOUT
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We see the market as we want to see it, not as it existsMake Believe world
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Thank You
• Disclaimer - The state of the market presentation is Deepak's perspective on the market. The presentation is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this presentation you agree to make no trade relying in whole or in part on the comments of the writers
• Chart Source: Chartalert.com
• If you have any question about the presentation: send me an email at [email protected]
• Follow me on YouTube: youtube.com/2deepaksingh
• Twitter id: @smarket