Analysis of Indian Stock Market for 27th August, 2019

Monday 26th August, 2019 we booked profit in our 120 BNF at 27500 and balance 120 BNF we quit when markets suddenly started going down. After that when markets started recovering, we again bought 240 BNF and quit 120 BNF at 27600 and balance we are holding with our trailing stoploss.  August 19 month has been a very volatile month for traders but our system which is well defined and tested is going along well.

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

The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are  26% of stocks which are above support and 74% 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.

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Thanks.
neera@crnindia.com