Daily trend of the market is down
After taking a good correction it seems as if the market may go up again for nother counterrally. But as the trend is still down, so the readers who had quitted their longs on 16th April, may stay out of the market and not create any long positions till the trend remains in downtrend.
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Percentage above support
Percentage of stocks above support is still below 50%, so it is advisable that the readers do ot create any positions in cash markets. We will wait for the market to come in uptrend and also the percentage of stocks above support to come above 50% before we start creating fresh long positions in cash market
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Strong Futures
This is list of 10 Strong Futures: Colpal, DCB, UCO Bank, Vijaya Bank, Renuka, ONGC, Federal Bank, TV-18, Hind Petro & Dr Reddy.
Weak Futures
This is the list of 10 Weak Futures: Grasim, Aban Off shore, Punj Lloyd, Bhushan Steel, Suzlon, Tata Steel, Patel Engineering, MTNL, Mphasis & Hind Zinc.
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