StockZodiac
Reservoir of Wisdom
After all the drama Nifty is holding the
level of 17500 levels, it shows that there is long-term sticky money in the
system that will get deployed in quality over short-term momentum risky
investments. The rise on Friday was a little surprise, we are expecting a final
sell-off in the Adani group before March, which can be the final blow to the
Indices. Technology is showing bottoming out signs, already some have recovered
well to rise further, on the other hand, the Pharma sector kept on losing even
on a positive day.
Technically, the last week’s chart pattern is
very positive and has indicated being long would be more profitable from a
short-term perspective, in fact, daily and weekly charts are in the slow and
stable accumulation zone. On the Candle of February 1, on Friday markets
recovered and even closed above the 50% level of the budget day candle, it
indicates with clarity that there is a lot of money waiting to get invested and
it is not bothered about the short-term volatility, which is making the maximum
noise due to Adani group. We would not be surprised to see 19300 within 6 to 8
months on the charts. Volatility would keep rising as technology &
systematic trading systems would execute the orders as per the signals. The
weekly chart indicates that a little more price & time consolidation would
improve the strength of the chart and a new high would be easier to hold as
well.
TimeMap of the week – more volatile week
ahead, the broad outlook is nominally positive week ahead, Tuesday, and
Wednesday seem to be the bearish days, Thursday seems a flattish day and Friday
is a very positive day. Banks have been consistently positive in the Time Zone,
the next sector is IT, while FMCG has been negative, along with Pharma. As mentioned,
Technology & communication 2 Reliance & Bharti showing positive TimeMap
in the coming week.
February 6, 2023:
Monday: Bullish after 11.
The lower opening would attract day traders and
also the short covering, which will push indices into positive territory within
a few minutes after opening. Metals will hog the limelight, along with PVT
banks. BTST is highly recommended.
February 07, 2023: Tuesday:
Volatile Book profits.
A higher opening is expected, Selling and
profit booking is highly recommended. Automobiles and Cement will do extremely
well. Day traders’ market-neutral strategy is best for an overnight trade.
February 08, 2023:
Wednesday: Wide movement in the market is expected.
The opening will decide the direction of the
market, higher opening means markets will rise, and a lower opening means fall
further. Trend following would yield the best results.
February 09, 2023:
Thursday: Bearish Day
Very volatile and unpredictable day. Tithi is
most deceptive and would be tough to arrive at decisions. Divergence will give the
best results and participate after the confirmation.
February 10, 2023:
Friday: Bullish
The last day of the week is actually showing
positive movement in the markets, Mercury 0 Pluto is a bad aspect, and it
indicates man-made destruction.
As mentioned above 19300 have been confirmed
by the markets within 6 to 8 Months. Planet aspects will play a crucial in the current week.
Futurologist.
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