Daily Big Picture – Late Buying Lifts Indian Market

Today’s Action:

Nifty records modest gain, powers up in the final hour.

Daily Market Review :

The bulls continued to reign over the market, as both the Nifty and Sensex scored gains of almost 0.3% and 0.5%, respectively.

Today’s session started on a gloomy note for the bourses, but benchmark indices flexed up their muscles in the final hours.

The broader market failed to enthuse investors as both the indices gave away their early gains to end marginally lower. The Nifty Midcap and Smallcap recorded losses of 0.1% and 0.4%, respectively.  Continue reading “Daily Big Picture – Late Buying Lifts Indian Market”

Chart Of The Day – Sasken Technolgies Takes Off In Style

#ChartOfTheDay Sasken Technolgies jumped 16.8% on more than nine times the 50-day average volume. The stock broke out of a consolidation base pattern in today’s session closed 8% above its pivot price of Rs 808.9. The Company reported Q4 results on Friday. Its net profit rose 27.5% whereas revenue was down 2.4% on quarterly basis.

Sasken Technologies_MarketSmithIndia

Daily Big Picture – Nifty Makes Bullish Reversal After Short Haul

Today’s Action:

Nifty records modest gain to end at two-month high.

Daily Market Review:

The Indian stock market made a bullish reversal on Monday, as the Nifty and Sensex started off the week on a positive note.

In the morning session, benchmark indices were trading lower on account of weak global cues. However, a bout of volatility was observed as the frontline indices bounced back sharply. Continue reading “Daily Big Picture – Nifty Makes Bullish Reversal After Short Haul”

How to Count Bases & Why You Should?

It’s a good idea to track the number of bases a stock has formed during its current run-up. As a rule of thumb, try to buy stocks that are breaking out of the first or second base of their run. Late-stage bases are riskier. Late-stage means a base that’s number three or higher in the base count.

Why is it Important to Spot a Late-Stage Base?

After forming a fourth base, most growth stocks can’t rally much further, if at all. What usually follows is a long, steep slide. After a stock has had a large advance without a major correction, the probabilities are greater that institutional investors will cash in their profits and push the price into a serious decline. Continue reading “How to Count Bases & Why You Should?”