Friday Aug, 23 markets opened down but intraday had a good rally led by Psu stocks as well as Reliance. We bought BNF intraday once a crucial resistance was breached and now we are carrying our longs of 240 BNF for Monday.
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 16% of stocks which are above support and 84% 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.
Let us see when good news comes for our markets.
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
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 16% of stocks which are above support and 84% 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.
Let us see when good news comes for our markets.
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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