Weekly From January 24th to January 29.

 StockZodiac              

Reservoir of Wisdom

 

Honestly, we were expecting markets to move up a little more and then give steep decline, and our assumption of sideways distribution followed by selling, correction began fast. So, in short last week, we went wrong, especially technology correction was a massive surprise.

The best policy in such a situation is just surrender, reassess, and take a small break before initiating new activities.

Last week, we expected a minor upside, tight sideways distribution move and then big correction, but markets crashed by more than eight hundred points, as previously mentioned our medium-term opinion is that previous closing low of 17000 would get breached, and 16300 seems the best target. We have also mentioned that unless 17500 gets broken no need to panic sell out.  

We believe 17365-17250 is a strong zone, which would be defended by the bulls. Close below 17250 will confirm the 15900 before February 21. As mentioned, breaking of 17500 will also give a nice bounce, and that bounce should be aggressively used to reduce leveraged and investment positions. We observed frontline, midcap quality stocks, could see 10% correction across the board even 13 to 14% deep correction in the markets does not seem difficult.

 TimeMap of the coming week, Used Monday January 24^th Nakshatra Position of SUN & MOON following result generated. Data is God.

 

Nifty out of twelve times 83% time has given negative close, it is as simple as this reading.

Solar date of January 08 to January 13, has given excellent results, as we have mentioned earlier that this solar date gives the best monthly trade results, with lowest risk. Some more short-selling ideas are recommended. TimeMap is showing negativity towards SBI & Kotak Bank, JSPL, JSWSTEEL, TATA STEEL, MANAPPURAM, DLF, RELIANCE, TATA MOTOR, and FORTIS.

Positive – BASF, HCLTECH, ICICIBK, TCS, ULTRATECH, ABFRL and AB CAP.

 1^st Day, January 24, 2022 – Bearish Day

Negative opening would confirm that markets are in downturn and corrective momentum. While our view is recovery, short covering is recommended in the first half, and most probably rollover would be on the corrective rise, which would give nice positive rollover spread.

Negative – Kotak Bank, Fortis, PVR, SBI, TATA MOTORS and JSW STEEL.

 2^nd Day, January 25, 2022 – Bad Day

Avoid new investment ideas, stick to trading or jobbing transactions, using trend following momentum indicators would give better results. In case markets fall, do expect a strong recovery from the lows, and positive close cannot be ruled out. Jobbing BTST position recommended. Buy – M&M, FORTIS, ASIAN P, GODREJCP, PIDILITE, and ITC.

 3^rd Day, January 27, 2022 - Bullish Day

Flat to positive opening is expected. Ideally, strong hand buying should get triggered, many counters would rise, and the rising trend would continue for the day. Khabri calls would be best to trade. Positive – Apollo Hosp, ONGC, HDFC, Ultratech, and HDFC.

4^th Day, January 28, 2022: Difficult Day, Good for Shorts.

Difficult day does not mean bearish, it simply means strong hands, manipulators or operators are regularly active, their plans trap retail investors and traders on the wrong foot. Metal sector would be highly active, sector leaders are most active, large cap companies attract churning of portfolio.

 

Thank You

Futurologist