- It's very difficult to navigate a market that is swinging between Hope and Anxiety.
- The hard thing about fasting is not the lack of sustenance, but about not having coffee/water/food-runs as outlets for nervous energy. ~ Joseph Weisenthal
- After a big down day on Tuesday, Nifty staged a minor comeback on Wednesday.
- On Wednesday: FIIs net sold shares worth Rs 1330 cr whereas DIIs net bought Rs 891 crores worth of stocks
- China continues to be the big worry. China's Shanghai Composite Index dropped 2.2% after their factory gauge sinks to six-year low. But the good news: Chinese stocks near support level
- There is Global turbulence but good news: Crude Oil saw a big decline today.
- 1 USD = 66.24 INR
- BULLISH ARGUMENT: Nifty is making attempt to take support at 100 week ma
- It's F&O expiry day and market has to get ready for Sep 29 monetary policy. Lots of action
- There is very strong Bull market in midcap Pharma stocks.
- Dishman Pharma has been the best breakout mover of last one month. The stock is up 37% from breakout point in last one month
- Unichem Labs also broke out last month and now seems to be making a strong bounce from the breakout support line.
- IDBI - "Another Axis Bank in the making" trade seems to be working. The stock clocked another 9% gains
- Torrent Pharma is at 100 dma. Will the support work?
- In hindsight everything looks obvious but in the heat of the moment, we get lost in too much of analysis. Never miss the Big Picture (trend)
- The level of 200 seems to be LINE OF HOPE for BHEL. There is no energy and enthusiasm in the stock.
- There is tremendous excitement around Bharat Electronics. The stock is circling around 200 dma and can rally.
- Spending by Indian government sector on IT products and services is expected to grow 5.2 per cent to $6.88 billion (about Rs 45,402 crore) this year ~ Gartner
- When traders are bullish, they look for every dip to support line as buying opportunity. Example: Indiabull Housing Finance
- Will Bosch find any support around current levels?
- TWL seems to be finding support around 200 dma. The stock has posted a big bounce and now seems to be consolidating before making another move
- BABA IPO happened with lots of enthusiasm but it seems nobody wants this stock now
- The only people who don't make mistakes are those who don't risk a thing
- In markets, you can survive mistakes but not grave errors
- Chalte Chalte
ChartSource: Chartalert.com [Indian Stocks]
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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