- Nifty Year to Date is down 5.7%
- This is what Global chaos does to portfolio. People can celebrate ten days rally but overall scenario looks like this
- The tornado (Global Volatility) has passed for now. But It was a brutal one and did tremendous damage to the charts. With tornado gone for now - traders can see the extent of damage and road ahead filled with obstacles (resistance)
- State of Nifty before the tornado hit Indian markets - strong support at 7540
- Then the tornado came and support of 7540 level was destroyed
- Market has incredible memory. This is what Nifty did today when it came closer to 7540. The level of 7540-7600 is zone of significant resistance
- It's no surprise that we saw good selling in leading large caps like Reliance and Infosys with Nifty at 7540. The Big question: If Nifty has to take out 7540 - which stocks and sectors can offer leadership?
- Hero Motors has formed an interesting chart - new 52 week high and consolidation. Thanks to rural Budget
- Yesterday I talked about how Large cap IT has gone into hibernation mode. The same is the case with large cap Pharma be it Dr Reddy or Sun Pharma.
- That's not the case with Lupin. The chart remains bullish despite all Global chaos
- 1 USD = 67.01 INR
- Sign of a Leader: The stocks that maintain their bullish charts despite all turbulence and chaos. With Nifty at 7540 - Ashok Leyland knocking at NEW HIGHs
- What markets do during the day is meaningless. Where markets end the day is all that matters. Because it is the price that traders take home
- One stock where volatility got compressed despite Global chaos - Asian Paints. But with market normal now - can it breakout from this zone and move higher?
- Will money flow in Underperformed and Underowned stocks in 2016? There is lot of hope building up in PSU Bank stocks and Sugar stocks.
- Can Renuka Sugar make a comback in 2016?
- With the passage of Real Estate Bill - Is it going to make life more difficult for cash strapped real estate companies? Real Estate is a difficult sector to analyze.
- When stocks are in Bear market - they collapse. Here's Prestige Estates stock chart
- Two stocks on Bull market watch: 1. Petronet LNG; and 2. IGL
- Is Siemens standing at Long term support?
- Godrej Ind has rallied from the support of 200 week ma. The stock is now trading at 330
- GNFC stock is doing everything right to build a solid Bullish chart - Gap up turnaround above 200 dma and then on every pullback to 200 dma - bouncing back with intensity
- Markets keep changing all the time. Your strategy has to be flexible enough to change when the environment changes.
- The tweet of the day.
- Do you want to learn Technical Analysis? - Science of Stock price action
"In my whole life, I have known no wise people who didn't read all the time. None. Zero."
- Charlie Munger
— Anthony Scaramucci (@Scaramucci) March 4, 2016
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