This week we’re looking at one long setup in Cement. Commodities and Infrastructure are bouncing from crucial levels. We’d like to look at a name from this segment.
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[Premium] Three Charts For The Week Ahead
We retired our “Five Bull Market Barometers” in mid-July to make room for a new weekly post that’s focused on the three most important charts for the week ahead.
This is that post, so let’s jump into this week’s edition.
Confirm and Conform : A Risk Management Strategy
As Technical Analysts, our primary goal is to identify the trend. If it’s headed higher, it’s positive. If it’s headed lower, it’s negative, and if it’s stuck in between, it’s sideways.
Sounds simple? Well, sort of.
As traders, your primary goal is to make money. Yes, we’re all here to learn, but isn’t the goal also making money?
Follow the trend, trade/invest accordingly, and book profits.
Sounds simple? Well, not so much.
Top/Down Take: State Bank of India (SBIN)
We’re back to share with you, what we love to do and that is the Top/Down approach. At All Star Charts we’re big fans of the weight of the evidence. The market tells us where it’s going, and we listen. It’s pretty simple really.
Over the past couple of weeks, we’ve noticed the PSU banks bouncing off their support and actually displaying some strength.
So today, let’s take a look at what this particular sector is hinting at.
The Outperformers
We debuted a new scan recently- The Outperformers.
The Outperformers is our newest scan that pinpoints the very best stocks in the market. It’s the fastest, easiest way to find quality names that are primed for major moves.
[Premium India] Monthly Conference Call Video Recording May 2021
This is the recording from the live May 2021 Conference Call for Members of the Allstarcharts India! Before getting into individual stock ideas in India, we’re going to first start with the global macro perspective. Once we identify the direction of the underlying trends from a structural and broader view, then we’ll dive into the NIFTY Indexes on both longer-term and short-term timeframe. We want to look at Large-caps, Small-caps and everything in between before getting into the Sector and Industries themselves like Energy, Banks and Pharma.
This is when we finally break things down to the individual stock scenario with identified risk vs reward opportunities. That is what this is all about – aligning ourselves in the direction of the underlying trend while at the same time identifying where the risk is to make sure the potential reward is skewed exponentially in our favor. You will find that throughout this process we discuss Momentum, Fibonacci and Relative Strength. I encourage you to check out the Education Section so you know exactly where I’m coming from when you hear me mention these tools.
Here is the video in full:
Breadth Indicators Picking Up Bullish Signals
The process of our analysis is such that we look at a variety of charts in order to arrive at a view at any given point in time. To make sure we’re identifying new trends that are developing in the market, we have several breadth indicators that we track.
As we already know, the market has been in a bit of a mess off-late. Within this market move, different sectors have taken leadership- almost as if playing a game of musical chairs.
Over the weekend when I was going through the usual suspects (charts) I noticed a slight change in market activity. So here I am talking about it!
[Premium] Trade Of The Week
This week we’re looking at two long setups this week. One in the Chemicals space and the second one in the Auto sector. While Chemicals have been among the gainers over the past few weeks, the Auto seems to be catching a bid off late.
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