Tag: daily big picture

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Daily Big Picture – Key Indices Face Sell-off at Higher Levels; Nifty Ends Below 10,000

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Today’s Action:

Benchmark indices started the day with minor gains. However, the indices slipped into red barely an hour into trade, and ended the day with losses. Broader markets fell along with the headline indices.

Daily Market Review

The benchmark indices started on a positive note in today’s trade. However, the gains were short-lived, as the indices slipped into red within the first hour of trade. By the close of trade, both the headline indices lost about four-fifth of a percentage point, and the Nifty closed below the 10,000 mark.

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Market at New Highs, but More Losers than Gainers-Are Your Stocks Topping Out?

MarketSmith India - Market at new hights

“The best way to sell a stock is on the way up, while it’s still advancing and looking strong to everyone else… You’ll never sell at the exact top so don’t kick yourself if a stock still goes higher after you sell.” – William J. O’Neil, MarketSmith Founder

We hope that you have been enjoying a good ride as the market has made new highs. However, if you have been reading our Daily Big Picture, you would have observed that the market breadth has been tilted toward the losers, even as the indices have climbed higher.

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Daily Big Picture – Key Indices Observe Stalling Day; Broader Markets Under Pressure

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Today’s Action:

The Nifty and the Sensex are on a spree of clocking new highs in three out of the past four trading sessions. Ending nearly flat of high trading volume, the key composites observed a stalling day.

Daily Market Review

The key benchmarks extended their gains to hit all-time highs in today’s session. However, by the end of the day, they consolidated and erased their morning gains to end flat. The broader markets closed at a decent gain, but continue to remain under pressure, trading slightly below their 50-day moving average.

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Daily Big Picture – Lack of Positive Cues Drag Key Indices Down

Today’s action:

The major stock indices declined further today, widening the gap from their all-time highs. The Nifty Midcap index and Smallcap indices recover sharply.

Current Outlook:

●      Market environment conducive for new purchases, but remain selective.

●      Focus on fundamentally strong stocks breaking out of sound base patterns.

●      Stay disciplined and exercise sound buy and sell rules.

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