September 25, 2023 to September 29.

 StockZodiac

Reservoir of Wisdom

 

We missed last week write up, but we were anticipating topping out pattern in many individual stocks along with Nifty as well, Banks triggered the most negativity being heavy weight on Nifty, obviously after probably 6 months we are witnessing such a big weekly negative close. Probably many stocks have confirmed a proper corrective trend, which means further decline in coming few days. PSU stocks would continue to do well, the biggest news of the week was re-rating on Bonds, that will attract huge foreign inflows.

 

Technical of the markets, we are likely to witness further correction and it can last for another 45 days easily, confirmation has been given on the short term 8-month cycle, that it would take 45 to 60 days minimum to cross the recent high. Further correction of 19450 seems would be best for the markets, 19100-18900 zone would make it even more strong for the follow up rise, as of now strategy would be reduce exposure on pull backs and be prepared for the sub 19300 levels – to invest aggressively. Oversold / bought reversal and divergence indicators on Monday close would be best for the week, long or short basket trades.

 

TimeMap is slightly negative even in the coming week or favours the sellers and it is important to note, downside risk is 19400, 19100 the upside is getting better, so do look for the position buy during the week. Jupiter 120 Mercury will give big movement in Insurance companies, metal companies will be in the limelight. Monday positive close would be best for the bulls, and negative would make it more bearish and better for the sellers, as similar direction through the week will give best results. On 29^th Venus 90 Uranus is bad for the markets. ASIAN P, HINDLEVER, ITC comping positive, Maruti & Bharti will be the surprise buy trades. During the week Wednesday and Thursday showing positive movement.

 

September 25, 2023: Monday: Bad day bearish sentient

The sentiment would be positive in the opening but after some time investors and traders will see mounting MTM, which will trigger panic sell off in the markets.  

September 26, 2023: Tuesday: Auspicious day

Buying and investment is highly recommended in FMCG counters, blue chip MNC will be best for the long-term investment.

September 27, 2023: Wednesday: Bullish Day

Gap up opening is expected, buy, and sell for the day is best and one can even go BTST as well. Contrarian investment is highly recommended.

September 28, 2023: Thursday: Bullish Day

Selective stocks would give strong upward movement to nifty, FMCG all stocks coming positive. Direction of the opening would give clarity, and intraday movement would be dull and choppy. STBT is indicated.

September 29, 2023: Friday: Bearish Day

Markets should decline fast. Negative from global markets could hurt badly, Negative opening means further selling is recommended. Big decline cannot be ruled out, STBT for Monday recommended.

 

Futurologist