- The market is always a contest between smart money and dumb money. The only problem right now: We don't know which one is smart and which one is dumb.
- Liquidity: DIIs continue to sell. They net sold Rs. 680 crores worth of stocks on March 16 2016. On other hand, FIIs net bought stocks worth Rs 620 crores.
- This is what Nifty did on Wednesday, March 16 2016 - another attempt to move towards 7540-7600
- Nifty closed in green. Traders following the mantra: "Stay upbeat and be opportunistic"
- More momentum will come once Nifty takes out 7540-7600
- The Banks be it PSU Banks or Private Sector - both demonstrating strength and can be the key in taking the resistance out
- ICICI BK demonstrates significant buffers to withstand deterioration in asset quality ~ Moody's. ICICI Bank on mean reversion rally mode.
- Technically - Yes Bank has the best chart. It has taken out both 200 dma resistance as well as horizontal resistance of 780
- The Index of Industrial Production just not picking up. Government data released shows that IIP fell by 1.5% YoY in January 2016 compared with a decline of 1.2% YoY in December 2015.
- The IIP explains why investors not enthusiatic about L&T: the stock has been down and out in last 12 months. It's quiet again but HOPE crowd is active
- 1 USD = 67.22 INR.
- Mid Cap IT stocks are doing well. Persistent Systems stock seems to have built a solid base and now ready to rally.
- Repco Home Finance has not rallied at all in the current move. The stock is at support. Opportunity or Trap?
- Every Bull market creates a new Bullish theme. This Bull market has already created one: Speciality Chemicals. The companies to keep an eye on: Navin Fluorine International; Vinati Organics, Bodal Chemicals
- Stock watch: Navin Fluorine at 200 dma
- QATAR AIRWAYS: "Very Interested To Invest In Indigo Now". Can it help the Indigo stock to stabilize?
- When a company has leveraged Balance Sheet, it's stock cannot sustain any rally. It's weight just pulls the stock down.
- Reliance Communication: In 2015 - it rallied because I don't know. In 2016: it has fallen and nobody knows why. The stock with no trend
- There is tremendous interest in Textile stocks. Welspun India made a new high recently. Gokaldas Exports creating some buzz
- The Junk on sale. Alok Ind used to trade at 100 in 2008 - now less than 5. There are media reports that PE funds and few textile majors are in race to buy the company
- Two stocks on watch list: DEN Networks, Hathway.
- Getting happy about an up day is as unproductive as getting upset on a down day. - Roger Nusbaum
- THE BIG PICTURE: This is what S&P500 has done over last two year - Built a solid base at 1810.
- The tweet of the day.
- Do you want to learn Technical Analysis? - Science of Stock price action
— ET NOW (@ETNOWlive) March 16, 2016
ChartSource: Chartalert.com [Indian Stocks]
Read Old Market Observations::
March 15: Bulls retreat after failing to take out 7540-7600 resistance
March 14: The Struggle with Resistance continues
March 10: Market encounters its first significant roadblock
March 09: Reading of Indian Market
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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