TimeMap of the upcoming week, October 9th to 15th.

 StockZodiac

Reservoir of Wisdom

 

As expected last week, we have been bearish on the markets from a short-term perspective with a downside target of 18600. The market sentiment remained bearish for two days of the week and saw a pullback from the oversold positions. During the week, market breadth improved, technology recovered, and banks declined further. Stock-specific action is happening. On a big decline day, we noticed many stocks were going up or trading in positive territory, while on a joyous day, some stocks got punished; the conclusion is that Indian markets are maturing. 

 

Regarding the markets, Wednesday's intraday spike bottom candle signalled an excellent chance of a bounce back, which happened in the last two trading days. As mentioned earlier, a lot of funds are waiting on the sideline to get invested, and after seeing 20200, it is obvious psychologically that at 19200, investors would give the buy orders. As per the time cycle, the Sell-off after a slight bounce will breach the low formed on Wednesday, and there is an excellent chance we will see 18600 before the end of the month. The trapped positions are around 19850 levels, which would come for the exits. Markets will decline further and could consolidate below 19000. 

TimeMap of the week, October 13th, Mars 120 Saturn is positive for the FMCG companies. The week will be positive for the metals, FMCG & sugar companies. The volatile week ahead is still showing positive by the end of the week. From the 10th onwards, Sun will enter Nakshatra Chitra, which will bring more market volatility, and the possibility of a breakdown or breakout on positive is highest from October 10th to October 22nd, 750 to 1100 points directional move cannot be ruled out.

October 9, 2023: Monday: Positive after Lunch

A down opening cannot be ruled out. The upbeat news for the sugar companies would attract a flow of buy orders, and the positive news for the sugar stocks would give them a trended movement in the stock prices. Cutting loss-making positions is recommended without delay. Momentum indicators would give the best trades and profits; being with the trend is the best strategy for the day. BTST in Cement & Auto

 

October 10, 2023: Tuesday: Bullish Day

The sentiment in the markets would be positive. We are expecting a higher opening of Nifty today. Cement and Automobile companies would hog the limelight. Overall, the market should give a positive close as per the timemap.

October 11, 2023: Wednesday: Bearish day.

Gap opening would be the theme of the day. Many traders will find themselves on the wrong foot or the wrong side of the markets. The first 2 hours would be crucial for the position holders; those who understand gap trading will make big profits today. We suggest STBT today.

October 12, 2023: Thursday: Bad day

It would be the most challenging day of the week for the traders. Divergence signals will give the best trades; delayed participation after a proper confirmation will pay off well. An adverse close & bad market sentiment would not surprise us.

October 13, 2023: Friday: Bad Day.

The combination of Tithi & Nakshatra is formidable; only some can remain calm and make appropriate decisions. A contrarian approach gives the best results today. 

 

 

Futurologist