The markets are still in a sideways consolidation range as far as nifty and bank nifty are concerned. The individual stocks keep moving up and down and one can play there trend better in such a sideways range. After a one way move of 900 points in Nifty, do not expect fireworks to continue without market going sideways. One needs to wait for good opportunity as a break from this sideways range will give good profits.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 62% of stocks which are above support and 38% 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 62% of stocks which are above support and 38% 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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