S&P500 sold off after a long long time
S&P500 closed the day with 1% loss. That's not a lot but considering how bullish S&P500 has been over last few months - it looks like a lot
China was Up and India down. Indian market directionless
Indian market has truely turned sideways. There is just no momentum and positive trigger to take the market up
The Focus has to be on USDINR now
With Indian Govt and policymakers now singing the chorus: Indian currency needs to be competitive; breakout depreciation below 63.91 is on the cards on weekly basis. At the time of writing this post: USDINR was trading at 63.96
Chennai Petroleum: Is the breakout for real?
The above is a weekly chart. A weekly closing above 110 would qualify as breakout. But with market condition so turbulent - will stock close above 110 on weekly basis. If yes, then one can be ready for momentum ahead
LIC Housing Finance: A Bull market stock at 200 dma
A strong Bull market stock always finds support at 200 dma. But in current market environment, there will be lots of doubts. Market risk can overwhelm any individual stock technical position
PTC India Financial Services - Low Tolerance for Bad earnings number
In a good market, one can get away with bad numbers but that's not the case with bad market. The tolerance for bad news is pretty low
DLF: Is there any confusion on where stock is heading next?
DLF stock was always avoid. One should never hope of turnaround by small upside move
Karnataka Bank: Going nowhere
Sometimes stock live in their own world, completely divorced from the market. They neither go up nor down in substantial way
Colgate Palmolive: How long stock will get support
Colgate stock has been in strong bull market for months now. The stock on every decline has found buyers. Will the trend continue?
Please share your comments on what you think of above stock observations
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers