We quit our BNF near 30000 on 24th Sept. Now the market is likely to consolidate for some time before it takes its next move. It is better to wait for clearing to be over on Thursday and then take next position. System traders can take position as per their system.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 77% of stocks which are above support and 23% 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.
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.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 77% of stocks which are above support and 23% 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.
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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