Analysis of Indian Stock Market for 3rd Oct, 2019

Tuesday was quite a volatile day for the markets. We expected a rally to start but the way market opened weak with more number of stocks declining than advancing, it meant that we were clearly below 50% in the morning so we could not buy. Overall it was more of a trading day in the market. One thing is sure that these days one really does not need to predict the market for the next day but rather keep trading intra day as the markets have become a one day affair. So be careful with your positions. If you are holding good delivery stocks, then nothing to worry.

The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are  38% of stocks which are above support and 62% 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.
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Thanks.
neera@crnindia.com

Disclaimer: Trading is risky and their is every chance of losing all your money.