Today’s Action:
Nifty, Sensex witness almost 1% cuts on high volumes; broader indices follow suit.
Daily Market Review:
The week started off on a poor note, as India’s frontline indices came under selling pressure right from the beginning of today’s session.
Things failed to improve at the bourses, as both the Sensex and Nifty ended the day with losses of 0.9% and 1%, respectively. Continue reading “Daily Big Picture – Nifty Extends Losing Streak to Four Sessions”
Every demanding craft presents its puzzles. Having a few specialty tools on hand and knowing how to use them can make all the difference in working through such occasional challenges with success.
For investors, MarketSmith India’s Relative Strength line is such a tool. In MarketSmith India, it is the blue line scribed just below the stock’s price bars.
The RS line compares a stock’s price action to that of the Sensex. A rising line tells you the stock is outperforming the benchmark index. Even if a stock falls in price, if the Sensex falls harder, the stock’s RS line still rises.
A falling RS line says the stock is being passed up. RS lines near highs show a stock that is steadily outpacing the general market. RS lines near lows indicate a stock is struggling, and can’t muster the strength to compete with its peers. Continue reading “Relative Strength Line – An Important Tool in Both Good and Bad Times”
On the back of four straight positive sessions, Future Lifestyle Fashions gained 13.9% on more than five times the 50-day average volume. As a result, the stock broke out from a 24-week long consolidation base pattern and scaled a new high.
Godrej Agrovet rallied 8.2% on massive volumes in today’s session. The stock broke out of a seven-week long flat base pattern, as it crossed its previous pivot price of Rs. 636.
Status:
Uptrend Under Pressure
Highlights:
One up and three down days
Weekly Market Review:
Clouds of uncertainty continued to loom over the Indian market, as major indices struggled for clear direction for the third straight week.
While the Indian market started off on a promising note, they lost steam in the next three sessions, resulting in a 0.3% loss on both the Sensex and Nifty. Continue reading “Weekly Big Picture – Bears Take Control Over D-Street, But IND-47 Continues To Shine”
