Category: STOCK MARKETS

MARKET UPDATE

18050 was a strong vibration point. Yesterdays low was 18048 level got broken but swift recovery doesn’t allow us to take the short trade. So things still stands where they were. Still 18050 continues to be a very strong support. Any short trade makes sense only below this point. This rally shall continue above 18350 till 18500 and 18640 on spot. Volatility is high so better to trade options. nifty bank is incredibly strong but miles away from supports. Next week is a vibration week so action would be high.

MARKET UPDATE

If you enjoyed the relentless rally in past few days then you should not bother with minor pullbacks. Every Action would definitely have an Opposite Reaction. NIFTY has approached the support area of 18100 to 18200 as long as 18100 is held short term setup is stable. Some correction only on cards below 18050 on spot. Below 18050 NIFTY could show 17875 and 17650 in near term. The major structure remains positive as long as 17500 stays intact. So better to be in index with thin volumes. Because there are some issues on upside especially the zone of 18650 to 18800 would act as a strong resistance. This zone have many Inflection points if we join the January 2020 high and March 2020 Low. So it is a challenging zone going forward. This market still have plenty of time before the current cycle complete its course. Which would end in April 2022. Going ahead if we get a monthly closing above 19100 then probability would be extremely high for NIFTY to test 21000 in this cycle. As far as investments in cash stocks are concerned no issues there. Short term corrections would come and go but ultimately they would go up significantly from current levels. Specially the cash stocks posted by me are surely completing there targets it’s just the matter of time. You need to keep time horizon of 3 to 4 months for those cash ideAs. Would look to suggest few more cash ideas in days to come.

RAMCO CEMENTS View

RAMCO CEMENTS. 1 of the weakest setup in F&o space. Is currently a sell on rise candidate. Fresh Harmonic Pattern breakdown would activate below 945 for the. TARGETS of 903 864 and 815 on cash directionally. A Hexagan+Channel Breakdown would take place below 900 for target of 789 on downside.

NIFTY UPDATE

NIFTY. Moving only on 1 direction all levels are just crossed without much effort. This is an interesting phase of this bull market. Personally learnt alot would definitely use the experience going forward. In past week around 17900 had to change view after price pattern gave fresh breakout. Dint expected a 600 points rally in less than a week. But need to accept it and respect markets. Major supports have shifted higher but way lower from current levels. 18100 to 18200 is a strong support as of now. 18700 could act as a strong resistance going ahead. Once that breaks 18900 and 19100 would be on cards. On time front 19th Oct, 26th Oct, and 29th Oct would be important vibration dates for rest of this month.