Weekly TimeMap

 StockZodiac

Reservoir of Wisdom

 

As expected, Nifty declined and gave negative weekly closing. The sentiment in the market is turning bearish. The signs of panic and investors losing patience are clearly visible in a few counters, and overall market participation has reduced. Adani Group continued to lose ground, and not easy to regain lost ground, most trapped investors and traders looking for exit are likely to lose further.

 

Technical – During the week nifty declined by 478 points, further fall seems imminent as the sentiment is turning bearish. On the charts, Nifty has given a close below 21^st October 2022, the chart pattern is indicating further fall up to 16900 is easily possible. Trend as per weekly is bullish, and sideways corrective movement is testing the patience of the investors. We had mentioned further consolidation is needed and only then the new bull rally would pick up. The Nifty level of 16700-16550 is the best zone for the double bottom, further new high becomes easy. Short cover and momentum strength in Nifty is only above 18200, so aggressive long only when momentum indicator triggers till then slow steady accumulation is the best policy.

 

TimeMap – further weakness is expected in the market sentiment, while after the volatile negative start of the week, we are expecting markets to recover nicely from the lows. Bank Index is showing further weakness, Pharma and Energy sectors showing positive movement. Broadly a nominal negative closing is expected. March 2^nd seems a turnaround day or Nifty could most probably bottom out. From March 10^th onwards expansion in volatility with a very positive trend is expected.

 

February 27, 2023: Monday: Volatile Day

The open-to-close nifty movement is expected to be a positive day. Divergence indicators would give the best buy-side results. Active participation in trading is required, and good money can be made.

February 28, 2023: Tuesday: Good volatile day

Navami on Tuesday, and the moon transited in the most aggressive and violent nakshatra that Nakshatra Mrugga. High beta counters would give the best results. Private banks, Index heavy counters. STBT is highly recommended.

March 1, 2023, Wednesday: Auspicious Day

While sentiment in the market would be optimistic, institutional selling pressure would keep indices under pressure. Momentum indicators would give the best breakout directional trades and hold the positive position as overnight positions. Realign portfolio to changing needs and developments.

March 2, 2023: Thursday: Turnaround Day

Tithi is bearish & Auspicious, and Nakshatra Aardra – Punervasu, is the finest and best day for turnaround stories. NCLT cases, restarting old projects gives the best results. OIL major is coming big positive with 40 days view. A negative close is a positive sign.

March 3, 2023: Friday: Positive after 9

A negative opening and Negative close would be a positive sign, and confirmation that markets are likely to bottom out in a max week’s time. Long-term investments are highly recommended. MACD monthly divergence signals will give the best results.

 

A panic selling from February 28^th to March 2^nd is a bright probability. PHARMA is showing bottom-out confirmation to get triggered in the coming week.

 

Futurologist.