The bounce after triggering the confirmation sell signal was
astonishingly strong, we were specific with our comment to reduce daily
exposure, especially the leveraged part.
The weekly n Monthly uptrend continues, and even the daily chart
has re-entered into upward momentum buy.
The technical charts are now full bullish, for the fresh entry
risk-reward is not favorable, but on the weekly pattern buy on declines and
during corrective phases is highly recommended. Avoid momentum positions using
daily charts.
On the weekly charts, 15440 has become a strong confirmed bottom,
and braking will indicate trend reversal on the weekly charts.
Last week a classic confirmation was given by the real estate
sector, and on a day almost all the top 5 stocks were by 5 to 7% up, except Indiabulls
real estate- which does not need any explanation. We are bullish on the sector,
and SIP during corrective moves is highly recommended.
The month of Shravan begins and it would be a volatile month.
August 09, 2021: Monday: S.1: Ashlesha-9.50/Magha: Wide movement
day.
Today, the 2nd Nuclear bomb was dropped on Nagasaki,
which forced Japan to surrender. Ideally, our expectation is flat for a lower
opening, there could be big hammering in select few stocks, and post 11.30 am institutional
buy would uplift sentiment in the markets. Position of the SUN in Ashlesha – would
continue to give a big move in metals, which was seen previous week also, Cement
stocks would join the bandwagon.
Venus 180 Neptune, indicates tech stocks or concept stocks could
witness hammering, stocks way above intrinsic value might feel the selling
pressure. The 2nd probability is some big news from the currency and
crypto markets, it is difficult to indicate direction but the move would be
big.
As a trader, momentum breakout indicators with phenomenally extraordinary
volumes should be aggressively chased in the same direction. Avoid contrarian
trade. Positive closing is expected, and BTST is recommended. Position trade-in
select PSU banks recommended.
BUY – TATA CHEM, CUMMINS, GODREJCP, DLF, CADILLAC, and M&M.
SELL – BASF, LT, VOLTAS, HDFCBANK, MCDOWELL, and WIPRO.
August 10, 2021: Tuesday: S.2: Magha-9.53/Purva: Auspicious to
book profits.
A higher opening can be expected, but we recommend booking profits
in the bullish positions. Momentum is bullish, the undercurrent is strong, and
it is the best time to book profits. As said, intraday many stocks can give
huge upward rally, slow and steady keep booking profits. Ashlesha tends to give
consolidation breakout, but the momentum is dangerously strong, so avoid
contrarian anticipated trades. Delayed participation after the confirmation is
recommended. Index heavy stocks in each category will be in the limelight. The
power sector & PSU stocks would hog the limelight. Ideally, closing should
be lower from the opening levels, institutional selling would put the market
breadth in the negative. No buying is recommended.
SELL – HDFC, GODREJ AGRO, TATA MOTOR, ICICIPRU, RELIANCE, and ITC.
BUY – ABFRL, WHIRLPOOL, INDUSBANK, ONGC, BAJAJ AUTO, LTI, and PSU BANKS.
August 11, 2021: Wednesday: S.3: Purva-9.53/Uttara: Auspicious
bullish Day
Mercury 180 Jupiter – is a bad aspect for the
traders, and good for the PSU banks, it is also good for Loan recovery.
Venus 120 PLUTO, positive for the stocks
trading below intrinsic value, or not getting due to PE multiple tend to become
darling of the big investors, in simple words stocks with very high dividend yield
tend to attract big-ticket buying from the long term investors. Tithi 3, give
wide directional move and more often positive, and also Nakshatra Uttara is also
bullish nakshatra, so the combination should give a bullish market today. The buy
and Sell strategy would give the best results. BTST is highly recommended.
BUY – SBI, BHARAT FORGE, TATA CHEM, IOC, KOTAK BK, ONGC, and
MANNAPURAM
SELL- MARICO, TATA POWER, LT, SRF, and DABUR.
August 12, 2021: Thursday: S.4: Uttara- 8.53/Hasta: Good after 15
The most deceptive day of the week. Tithi 4th as has
been mentioned a few times before is the most deceptive of all the Tithi, intraday
charts generate max failure patterns, and so it is best to take 3 confirmations
before taking any trade. Nakshatra Hasta means patience, trade at your terms. It
has been observed that generally selling pressure is slightly more, and prices
tend to correct or fall from the intraday high. Day traders will make more
money by SELL and BUY strategy. We are expecting markets to give a negative
close. The automobile sector would witness selling pressure, technology could
attract aggressive buying.
SELL- NIFTY, BPCL, M&M, MCDOWELL, TATA STEEL, and DABUR.
BUY – SUN pharma, Godrej Ind, HCLtech, Bandhan Bank, and Bajaj
Auto.
August 13, 2021: Friday: S.5: Chitra: Auspicious day to Invest.
The best day of the week to invest. The influence of Chitra
Nakshatra on the GAP opening plays a very important role in the technical
charts. Pharma sector might witness selling or profit booking from the institutional
investors. intraday traders can look for hourly charts, it would be the easiest
day to make the profits. Private banks and branded good companies can be best
for trading.
Buy – BANDHAN, INDUS, COAL INDIA, HINDLEVER, and MARUTI.
Sell- Cadilla, TCS, APL, INFY, Fortis, and AXIS bank.
Mahesh Gowande
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