- "Face reality as it is, not as it was or as you wish it to be." ~Jack Welch
- Reality: Nifty continues to make New Highs
- Who is buying? Does it matter? Prov Figs As on 01 Nov'17(in crs): FII : + 1038.31; DII: -667.91
- The Big Surprise trade over last few weeks: Telecom stocks primarily Bharti. (Tremendous disbelief - I am also guilty. I looked at this breakout and said - Not happening. Stupidity at its best on my part)
- Lesson: When the chart says Buy, it means Buy. Thinking logically is stupidity
- Disbelief is the best trade. Example: Real Estate in March 2017. I covered the breakouts back then
- Bullishness in Real Estate stocks now mainstream talk (even Valuation talk has picked up 🙂 )
- The Best Large Cap Breakout this year: Reliance. This is how it played out
- I am happy that I announced the breakout of Reliance on the day it happened. It's now up 60%
- Despite such a huge upday - not many traders felt the rally yesterday. Why? The BSE Mid-Cap index rose just 0.35% whereas the BSE Small-Cap index gained 0.55%
- PSU Banks made a large move last week. It has been a reset exercise for most of the names. There is no point analyzing them now. Let the dust settle.
- There is lot of buzz around Bain Capital picking 5% stake in Axis Bank. Here's one Private Sector Bank that looks interesting on Charts
- There are text book charts and then there are choppy charts. IDFC Bank completely choppy and hence very difficult to conclude on what it wants to do
- When it comes to Auto stocks - we have a new Leader: Ashok Leyland. The stock is now buy on every declines
- Is Pharma stock buy now? The Charts give no such evidence as of now
- 1 USD = 64.57 INR
- Frontline IT stocks continue to struggle but it seems momentum is returning in mid-cap IT space. Here's what Price Action concepts tell us? 8K Miles did a classic Turnaround breakout move
- Breakouts can sometimes test patience like crazy. Here's one stock that has broken out but not made a big move yet.
- Two Sectors where Brokerages have turned super Bullish: Steel and Cement.
- Never keep your eyes off from a bullish theme where Momentum has initiated. Here's one theme one should follow
- Why traders love when stocks take support at moving average - Because then stocks bounce big time. Here's Vedanta stock doing the same (I covered when the stock was at 200 dma)
- There is new momentum in PSU stocks. Few Observations.
- Fortis: Will the stock find support at this base?
- I have no idea what market will do 4 weeks from now or 4 months from now or 2 years from now. I take each day as it comes and look at the big picture based on what's happening now.
- Chalte Chalte.
What Bharti Airtel is doing once again makes the same point...Never overthink and just succumb to market action
— Deepak Singh (@smarket) October 23, 2017
One sector in India where there has been pretty visible breakout in stocks with huge volumes: Real Estate
All Bad news priced in?
— Deepak Singh (@smarket) March 23, 2017
A mega breakout in Reliance after 9 years....Reliance all set to rally another 50-100% over next 2 years
— Deepak Singh (@smarket) February 22, 2017
No analyst can tell you to sell at the top and buy at the bottom. The problem is not with the analyst the problem is with you if you believe
— Deepak Singh (@smarket) January 18, 2016
Chart Source: Chartalert.com
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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