Monday 19th August, 2019 we quit our balance 120 BNF at 28330 as the market was not looking very good as their was no news coming for the market. But, we suppose that charts have a lot of things to say and that is what we try to decipher and make sense and take position accordingly. We decided not to go short in the market as the international markets are in a recovery mode hence we do not have any position outstanding as of now. We will take our next position tomorrow i.e. 20th August depending on the markets. (We have also decided to update this blog at near 4 pm of that trading day as this suggestion came from some people to update the blog after market so that they can visit here and see it that day. The delivery time of this blogpost is around 9 am next day which is the policy of blogger.com so the delay )
The track record is in below table.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 29% of stocks which are above support and 71% 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 4 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.
Let us see when good news comes for our markets. Till then keep enjoying the trades.
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
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