Daily trend of Nifty is up
Our trend of Nifty came in uptrend on 30th December, 2016 closing.
We have been repeating this that "trend is still up and we wait". If you remember that some days back we had mentioned that we are not liking the markets much and that money is flowing into Gold and Silver which are precious metals and safe heavens. Well, trend is still up and we have to wait for sell signal.
There are two ways of playing the markets, one is the trend theory and the second is a major support or resistance formation which takes place and which has to be judged seeing all asset classes. Normally this support or resistance develops either in oversold or overbought zone. A support or resistance is played with help of options or a bull or bear spread and not with naked futures as the loss in case of naked futures could be huge.
More in next emails.
Here we are giving levels as per trend theory and not support or resistance though precaution can always be taken when support or resistance is hit.
Percentage of stocks came above 50% on 1st January, and are still above 50%.
Strong Futures
This is list of 10 Strong Futures: Sun TV Network, JUST DIAL LIMITED, CESC Ltd, Godrej Industries, Indraprastha Gas, Hexaware Technologies, Grasim Ind, L&TFH, Idea Cellular and Bharti Airtel.l
Weak Futures
This is list of 10 Weak Futures: Tata Motors DVR, Tata Motors, SRF Ltd, INDO COUNT, BANK OF BARODA, Aurobindo Pharma, IDFC LIMITED, CEAT Limited, Steel Authority of India and Union Bank of India
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