Uptrend Under Pressure
Benchmark indices posted solid weekly gains. Nifty, +1.0%; Sensex, +0.9%; Nifty Midcap, +0.5%; Nifty Smallcap, +0.3%; Model Portfolio, +1.8%; and MSI Ind 47, +0.1%.
Weekly Market Review
The Nifty continued its bear run on Monday for the third straight session and closed below the 10,700 level. With that, we changed the market status to an Uptrend Under Pressure. Continue reading “Weekly Big Picture – PSU Bank and Media Stocks Uplift Market; Nifty Reclaims 200-DMA”
Benchmark indices posted gains for the second day in a row. Nifty, +0.5%, Sensex, +0.4%, Model Portfolio, +1.8%; MSI Ind 47, +0.9%.
Daily Market Review
Nifty ended close to its day’s low. The Indian market gapped up following global market gains.
On the sectoral front, action was mixed. Nifty Media (+1.7%) and Nifty IT (+1.4%) gained the most, whereas Nifty Realty (-0.6%) and Auto (-0.5%) lost the most. Continue reading “Daily Big Picture – Nifty Retakes its 200-DMA; Media and IT Stocks Lead”
Benchmark indices put an end to the losing trend. Nifty, +0.6%, Sensex, +0.5%, Model Portfolio, -0.5%; MSI Ind 47, -0.2%.
Daily Market Review:
Nifty was up around 200 points from its day’s low. Following the global sell-off, the Indian market opened gap down. But, later market recover to end in positive territory. Continue reading “Daily Big Picture – Nifty Rebounds About 200 Points From its Day’s Low; Media and Financial Stocks Lead the Market”
– Today, the market status has been changed to an Uptrend Under Pressure. The distribution day count for the Nifty is at five and is trading below 200-DMA.
– High number of distribution days, Nifty trading below its key support level and weakness in global markets has led us to shift market to Uptrend Under Pressure. Continue reading “Market Status Changed to an Uptrend Under Pressure”