Broader trend of Cash stocks came in up on Monday 9th Sept as percentage above support that day came above 53%. Nifty midcap 50 that day closed at 4315.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 70% of stocks which are above support and 40% 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. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought.
All the action in the market occurs intraday only and big money changes its direction very fast. You may have seen from that one month trial of intraday banknifty that all action was quite fast intraday. Daily level buying and seeing big profits will take time. Also the thursday weekly clearing on Nifty and Bank Nifty Options also plays a spoil sport in the market. These moves can be caught intraday only.
It seems the big investors are lacking confidence in the economy and that is what is showing in the market at higher levels as selling is coming fast at higher levels.
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
Disclaimer: Trading is risky and their is every chance of losing all your money.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 70% of stocks which are above support and 40% 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. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought.
All the action in the market occurs intraday only and big money changes its direction very fast. You may have seen from that one month trial of intraday banknifty that all action was quite fast intraday. Daily level buying and seeing big profits will take time. Also the thursday weekly clearing on Nifty and Bank Nifty Options also plays a spoil sport in the market. These moves can be caught intraday only.
It seems the big investors are lacking confidence in the economy and that is what is showing in the market at higher levels as selling is coming fast at higher levels.
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
Disclaimer: Trading is risky and their is every chance of losing all your money.
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