StockZodiac
Reservoir of Wisdom
After the corrective decline of the 3 weeks, in the last week
markets gave a positive weekly closing. We were not surprised by the positive
close, but confidence got a big jolt in the 3 weeks. Interestingly, many
different sectors are coming in limelight and after 2 or 3 days, a different
sector is hogging the limelight. Improving market breadth is a very positive sign and
it means secular bull run is building up, and slightly spread portfolio can
give good results.
Technically the corrective phase on short term is over and
ideally further rise is expected, the short term is less than 13 to 85 days.
The level of 19300 is crucial for the swing traders, and ideally we expect
volatility should breach the recent low of the markets that is 19223 and on the
upside selling pressure would mount around 18905 levels, there is a gap around
18 & 20th September it could act as strong resistance line of the bears,
who could become extremely aggressive in selling to defend it as it is their
last defence. Below the 19300 even the momentum or strength of the bulls will
slight get weakened, and probability goes up very high for the markets to
correct further by 600 points. And breaking of 19200 will confirm 17700 on
screen within 8 months. Our observation is markets need little more
consolidation around 17000 to 18400 zone and it could make it much strong to
hold weight of the rising capitalisation of the markets. Growing markets need
more consolidation or otherwise it takes decades get adjusted the way we saw in
Japan or China and in many other countries.
TimeMap as SUN is Nakshatra Chitra, we are going to see lot of
action the gap of 10th got filled, and now it would be more interesting to see last
week high getting crossed. From 23rd Sun will enter Nakshatra Swati, which is best period to start
new investment ideas, to be held as long-term investments, new business
proposals and plans. Planet aspects are slightly in Favor of the bears, and we
believe that there could be a sell off during the 23rd to 6th November, zone
which may breach the 19300 level, and instead of getting in panic mode, be
specific with the new investment and add.
We recommend having less leveraged positions and holding about
cash of 15% to 20% would give enough opportunity to reshuffle the portfolio.
Lag or being slightly behind the markets would be best style in the next 30
days.
October
16th, 2023: Monday: Positive for investments
Flat
to positive opening is good for the markets and investing in value stocks, or
safe bets is recommended. Avoid aggressive positions, traders can continue to
participate in natural resources, and momentum stocks. Buy and sell
recommended. STBT is recommended.
October
17th, 2023: Tuesday Bad day
Negative
opening is a very bright chance and sell and buy would be better for the
traders. STBT recommended. Banks might give contrarian trade today, and many
sell signals on the short term might turn positive. Watch the chemical space
for the turnaround stories.
October
18, 2023: Wednesday: Volatile
Tithi
4th is bearish and confusing, trapping confident traders or
confirmed levels is the speciality of the Tithi, so extra caution and slightly
spread portfolio is recommend, or keep size of the trades small and once bet
moves in positive only then increase weight. USE momentum indicators and
participate in BTST & STBT basket carry long and short positions.
October
19, 2023: Thursday: Momentum Day
Nakshatra
Favor’s big activity in the large cap and sector leader’s space. Metal sector hogs
the limelight, and it would give best trading opportunity, short or long use
momentum indicators. BTST in Cement and Automobile is highly recommended.
BEST
day of the week to make highest profits of the week.
October
20th, 2023: Friday: Bullish day
Bullish
sentiment would prevail in the markets. One of the days when nifty does not affect
the market sentiments, the sentiment remains positive irrespective of negative
or positive move. It is like a happy day and positive vibe day. Automobile ancillary
units, and Sugar stocks would be in limelight.
Futurologist
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