StockZodiac
Reservoir of Wisdom
As expected markets
declined further and post-May 25th showed first signs of reversal,
or value buying emerged around 15800 levels. There is complete negativity &
be it anybody with lots of buts and if, even the most seasoned investor is
stressed. It is not easy and also sensible to be rigid and firm, while Star Sun
is transiting Nakshatra Kruttika. The technology sector saw the wildest swing of
recommendation, at Euphoric expensive valuations strong buying recommendations,
and now at the reasonable valuations sell recommendations.
Market sentiment is negative,
and while there is a constant SIP flow and new investors coming in, the trading
community is in bearish mode.
We could not participate
much in selling or buying, we kept revisiting our ideas, and delayed actions
helped us better.
Technicals sideways
consolidation on the weekly chart, there was one minor sell pattern that has
already given the targeted 15700 on the charts, while we gave targets of 15750,
16300 way back in December 2021, and January 2022, we were never in extreme
bearish mindset, as price behavior does not show any signs of strong & matured
hands reducing or exiting from their investments. As mentioned in the last
week, further hammering with higher volumes would be better, and reducing the range
of the price movement is needed of another 2 or 3 weeks. The previous pullback
or the bounce was very strong, and it indicated select counters have
witnessed further buying. The global scenario became visibly bad, and then
followed major selling and profit booking, interestingly Indian markets held,
breaking of earlier low, driving out weak hands, and algo systems become
bearish so even the trading longs get squared up, and that sets the foundation
for the new bull markets. Technical levels nothing has changed so the previous
week remains still valid.
TimeMap of the current week, a major change is SUN has
entered Nakshatra Rohini. The ruling deity is Bramha, the primary motivation is
material liberation, or to get out of survival worries. The Nakshatra has
visualization, artistic and creative abilities so good for people interested in
arts. The meaning of the nakshatra name ‘Rohini’ is ‘growing’ it slows steadily
growing. The nakshatra resides in Taurus, which materialistic sign, these
people are loyal and once attached do not change their loyalty easily. Moon is
exalted in this sign, imagination and creativity get the constructive/execution
edge. These people tend to be responsible and disciplined executors.
The shadow side is greed makes them blind and
materialistic desire becomes an obsession. Being in sign Taurus, obvious lazy,
lack the motivation & initiative abilities.
TimeMap is showing a positive close in the coming
week, and surprisingly the best sector is technology. Broadly it is one of the
best Solar zones to look for new investment ideas or turnaround in the existing
blue chips. example HDFC AMC,
Positive stocks – HINDLEVER, HCL TECH, WIPRO, ABFRL, COLGATE,
ZYDUSCAD, and ZEE.
Negative Stocks – TVS motor, BPCL, SUN pharma, Fortis,
Reliance, Hdfc Bank. and PI IND.
May 30, 2022: Monday Bad Day
Sentiment in the markets would be cautiously optimistic,
most participants would be confused, inability to arrive at conclusive decisions
would add volatility to the markets. We believe staying away is the best position,
and avoid participation if there is even the slightest doubt.
May 31, 2022: Tuesday – Mean Reversion
The day is extremely deceptive, especially after 10.30
expect sharp movement in select stocks, the move would be extremely lighting
fast, and traders will not get time to react, better to keep stops in the
systems. STBT recommended.
June 01, 2022: Wednesday – Auspicious Day
Momentum breakout and reversal trades would give the finest
results, and the profits. High beta private banks and tech stocks would hog
major limelight. Communication would be under pressure. Post Lunch sudden sell-off
in the markets cannot be ruled out, the sell-off would be in a select few
stocks only.
June 02, 2022: Thursday – Auspicious Day
Much better Auspicious day than Wednesday, especially
for the ETF investments. Tithi 3 gives big moves, and more often bullish, do
not be surprised. Our bias is positive for the day, rising accumulation cannot
be ruled out. STBT recommended.
June 04, 2022: Friday: Good to invest till 14
Gap down opening is expected. Tithi is deceptive and
also bearish, Nakshatra Punevasu with SUN in Rohini best to initiate bottom-up approach
adds new investments. Negative closing would be considered a very positive
signal for the next week.
Overall positive week.
Thank You
Futurologist