StockZodiac
Reservoir
of Wisdom
The
Last week of march as expected gave a nice aggressive positive close, and from
the technical perspective a major moving avg- has been not only crossed but
even the weekly closing has been given in the last 2 trading days, making the overall
low of march as the strong bottom for the markets. IT, INFRA, and BANKEX show
strong holding capacity of long-term investors, and a new high is expected very
soon after a little more consolidation.
The
weekly closing has brought life back in many charts and looks like traders will
have the best 15 days ahead.
Technical is not just following a trend or price, taking notes, understanding,
and studying the pattern of the responses to the current situations &
events vis-à-vis similar records of the past. As
mentioned above many charts have shown bottom-out signs, with a proper bottom-sealing
pattern, and some have formed proper CB-CT on daily charts. Looks like markets
can give a pleasant surprise, and further rise cannot be ruled out. The closing
has triggered a confirmed target of 17780 in short term, 18300 in 88 Days.
TimeMap – A lot of watsapp forwards have started pouring in
about the month of April and how it has been most consistent and positive, and
it is true as well. We kept insisting to keep adding during March Declines and getting
invested by end of March. Broadly speaking a very positive week, with 2
holidays very difficult to trade. Metals and commodities may remain subdued.
April 03, 2023: Monday: Volatile day
A higher opening is expected. We are expecting a further
rally in select stocks, especially the pharma sector, and technology. Towards the
end of the day, especially after 13.45 a sudden selling might bring nifty even
in negative. New buying only in stocks trading in negative is recommended,
ideally, we recommend booking profits in the first half of the day. BTST is recommended.
April 05, 2023: Wednesday: Bearish Day
A higher opening is expected. Bearish means slow and stable
markets with extremely low volumes, volatility would be high. Ideally, markets
should close n the negative. Divergence indicators would be best to use for the
intraday trades. In case markets close in the negative only then BTST is
recommended.
April 06, 2023: Thursday: Auspicious Day
A big movement in the indices is expected. A flat to the negative
opening of the indices is a positive sign. We believe aggressive short covering
in the 2nd half might give a new weekly high today.
Futurologist.
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