Indian Stock Markets are taking all turns intra day. Earlier when it was bull markets and if they went up, all investors holding stocks were happy, but now overall markets are facing a lot of headwinds as FII have been continuously selling. There was added pressure of weekly option clearing in Nifty and Banknifty. In such bearish markets one has to be quite proactive to earn. You just cannot sleep and earn because your value of holding is going down. Let us wait today as FM is going to speak in the morning followed by the GST council meeting.
Just for your information, the intraday clients went short in Bank Nifty future at 27794 on tuesday 17th Sept 9.30 am, they booked half and other half they are holding. Current price is 26800.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 47% of stocks which are above support and 53% 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. Today if there is a rally in the market and advance decline is positive then percentage support will again come up above 50% and then it will be a buy.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
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.
Just for your information, the intraday clients went short in Bank Nifty future at 27794 on tuesday 17th Sept 9.30 am, they booked half and other half they are holding. Current price is 26800.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 47% of stocks which are above support and 53% 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. Today if there is a rally in the market and advance decline is positive then percentage support will again come up above 50% and then it will be a buy.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
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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