Analysis of Indian Stock Market for 3rd September, 2019

Friday 30th August, 2019 was a day of patience. We did not have any position and waited to take our fresh longs as was mentioned in the earlier newsletter. We bought 240 BNF at 27505 at around 2:30 pm. Now let us wait for Tuesday as market is closed on Monday.

If you are on twitter you may start following @crnindia where we plan to give support to investors.

(This newsletter you can always find at the blog at 4 pm after market hours.)

The track record is in below table.

	Position	BNF	50% profit	Paper Profit	Cumm	Balance
BNF	Date	Price	Taken	Loss	Profit/loss	Position
240	Thursday, August 08, 2019	27950	28200	30000		120
	Tuesday, August 13, 2019		28225	33000	63000	0
-240	Tuesday, August 13, 2019	28190	28000	22800	85800	-120
	Wednesday, August 14, 2019		28060	15600	101400	0
240	Wednesday, August 14, 2019	28100	27955	-34800	66600	0
240	Friday, August 16, 2019	28062	28250	22560	89160	120
	Monday, August 19, 2019		28330	32160	121320	0
240	Wednesday, August 21, 2019	28110	27898	-50880	70440	0
240	Friday, August 23, 2019	27210	27500	34800	105240	120
	Friday, August 23, 2019		26983	-27240	78000	0
240	Monday, August 26, 2019	27330	27600	32400	110400	120
	Monday, August 26, 2019		28215	106200	216600	0
-240	Wednesday, August 28, 2019	27977	27782	23400	240000	-120
	Thursday, August 29, 2019		27750	27240	267240	0
240	Friday, August 30, 2019	27505				240

The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are  35% of stocks which are above support and 65% stocks are below support.  When stocks above support are below 50% we consider cash stocks to be in downtrend and above 50% we consider cash stocks to be in uptrend. Just for your information the cash stocks percentage has been below 50% for majority of the time in last 5 months. This percentage when comes below 10%, we consider the markets as quite oversold  and when it is above 90% as quite overbought. Here we also have to see the broad trend of US markets.


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Thanks.
neera@crnindia.com