NSE Nifty - Technical Analysis

SGX Nifty is down 146 points (at 9718).

More downside coming tomorrow.
Trapped :damnmate: it is now 40:60 :: cash:shares. it should be 60:40 :stupido: I received a bad news and out of home for few days this month, could not get back in time

Added some for results play and that is where I am trapped now:mad:.

sachinjee, I am holding high quality stocks about 70% of portfolio, do I need to fear anything and sell them too?
 

paran

Active member
Let me guess...you started investing heavily exactly 6 months back. :)
I don't say "heavily" but yes I did increase my equity holding considerably.

I worried about my two holdings.

1. Coal India

2. Shriram Transport

I am more worried about Shriram because of the merger news with IDFC. After the news it started to move sideways and mostly was drifting down slowly.
 

San Yad

Active member
I see the coal India picture other way round.

Rs 200 to Rs 235 is the range to add in portfolio for long term for coal India.

Such company slow and steady but never fail. and when good news comes in years it will always jump.

One has to be patient like sarkari Naukar (Govt Servant).

Happy Investing!
 

Atiker

Active member
I see the coal India picture other way round.

Rs 200 to Rs 235 is the range to add in portfolio for long term for coal India.

Such company slow and steady but never fail. and when good news comes in years it will always jump.

One has to be patient like sarkari Naukar (Govt Servant).

Happy Investing!

Coal India appears scary -

https://qz.com/994944/coal-india-lim...er-is-hurting/

http://www.independent.co.uk/enviro...fired-power-stations-record-low-a7751916.html

But then scary times are the time to accumulate.
 

Alchemist

Administrator
Staff member
Nifty is back in range again.

Downward breakdown looks more likely, but can't say for sure.

Red ribbon is the 50 EMA. Currently around 9805.

PSU banks are particularly weak. Metal stocks are making new highs and the strongest.

 

Alchemist

Administrator
Staff member
Nifty is showing unusual weakness compared to other markets.

SGX Nifty is now below 9700.

If we have another day or two of sharp correction, there is a risk that leveraged positions may lead to capitulation in the market.
 

paran

Active member
Though Nifty's PE is reaching too high levels, IT sector index's PE is at around 17~18 levels.

So is it safe to pick the stocks from there at this point of time.

I think, once the good time is back for the IT sector then considerable appreciation is possible from the current levels.

Any opinions?
 

paran

Active member
In the recent ongoing correction, Sensex or Nifty Index didn't correct much but individual stocks have corrected around 10~15%.

What's your strategy now?

- Sell now and wait for more downside?

- Slowly keep buying

- Don't do anything and just wait on the sidelines?

Seeing the notional profits vanishing :frown: couldn't watch it keep going down :).
 

Alchemist

Administrator
Staff member
In the recent ongoing correction, Sensex or Nifty Index didn't correct much but individual stocks have corrected around 10~15%.
Most of the froth is in the mid-cap segment. Hence mid-caps are bound to correct more sharply than the main stocks.

Different stocks are moving in different cycles and thus it is not possible to give a blanket call for all stocks.

Stocks like Can Fin Homes and ITC topped out months back and now their valuations are reasonable (compared to other stocks.)

Overall I think the market is very richly valued and "investing" should only be done after careful consideration.
 

Alchemist

Administrator
Staff member
The volumes are not very high.

The sell off is because of US markets and I think the direction in next few days will be determined by US markets and not domestic factors.
 

Alchemist

Administrator
Staff member
Stocks are steady after a gap down.

The volumes are low when compared to the sharp price move.

I guess both bulls and bears are not sure what to do from here on. :D.
 

Alchemist

Administrator
Staff member
Dow Futures are at 23000.

Very scary. If futures don't recover by the time European markets open, we can expect more selling later today.
 

Alchemist

Administrator
Staff member
Today, Indian markets are under-performing other Asian markets by a big margin.

Let's hope the PNB fraud doesn't snowball into something really big.


 

ramkasi

Active member
Today, Indian markets are under-performing other Asian markets by a big margin.

Let's hope the PNB fraud doesn't snowball into something really big.
Two weeks after, still under performing. Today hang seng up 2% we are down 1 %

"People are making very easy money from equities ,TAX THEM MORE AND MORE..... " statements will sleep for some time :D:D:D

I think people who are making money from their bank deposits are too not making any effort to get interest :D [includes me too]
 

ramkasi

Active member
sachinjee, do you think the correction is temp... halted and correction will resume after some time?

Can one take positions here for a week or 10 days time?

Also there is a say that SELL IN MAY GO AWAY :).
 
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