Early in February, we had published a post discussing the Adani Group and its targets as well as risk management levels. We published a follow-up post with revised targets and risk management levels in April this year.
Well, it's that time again where we update the levels and see what's in store for this group.
Here's to more rotations and revolutions in this particular solar system. Off we go on our rocket ship to see what the charts have to say!
We created a Custom index of Equally weighted Adani Group stocks. As you can see, this particular line chart only requires an extension in the headspace area. Keeps moving higher and higher.
The Financial Services sector has been displaying resilience. Within this universe, there are certain stocks that are showing strength and moving past their resistance.
Let's see what the charts have to say!
With the breakout in Nifty 50, several indices have resumed their trend on the upside. Financials is another sector that has been hinting at the same.
In this post, we're also going to take a look at some of the lesser discussed stocks in Financials.
Here are some stocks at crucial levels.
First up, we have Cholamandalam Financial Holdings. The stock has moved past its resistance of 620 and is on the way to the target! After halting at the overhead supply zone for quite some time, the price broke out along with the indicator moving into bullish momentum territory.
We are positive above the level of 620, with a target near 780.
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.
The goal is that as the market rally progresses, the sector rotation within the market will reflect in this scan. So while our Top/Down Analysis helps us with the broader view of the market, this Bottom/Up scan makes sure that we catch the slightest change in sentiment.
This week we're looking for a long setup in the FMCG sector. There are pockets of this sector that are displaying strength and we'd like to focus on one such idea this week.
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.
Over the past few days, we've seen the market resolve higher. With the new all-time high in place, we're seeing one sector witness growing strength.
Energy has been a part of the sectors that have been showing strength for some time now. However, there are a few stocks that are now joining the bandwagon of the 'breakout express' and this seems like a good time to jump aboard!
To start off, let's take a look at the Energy index and see what we've got there. Nifty Energy has clocked a new all-time on the Monthly timeframe. Needless to say, that is a big positive! So what are the levels that we're watching? Well, from a slightly longer-term view (we're looking at monthly charts, remember?), if Energy continues to chug on higher, we're looking at a target close to 23,825.
We debuted a new scan recently which goes by the name- All Star Momentum.
All Star Momentum is a brand new scan that pinpoints the very best stocks in the market. This time around, we have incorporated our stock universe of Nifty 500 as the base. Among the 500 stocks that we follow, this scan will pump out names that are most likely to generate great returns.
While we go through our lists of sectors and stocks on a weekly basis, we thought of launching a product that would highlight the names that are the strongest performers in our universe and those that are primed for an explosive move.
Just like The Outperformers scan, this is a list of stocks belonging to the sectors that display relative strength in the market at any given point in time. Since sector rotation is the lifeblood of a bull market, we will be ahead of the curve before the gears keep shifting.
We put out a post recently about the breadth indicators picking up bullish signals. This was when Nifty 50 was attempting to move past its earlier high of 15,431.
Well, what do we have now? In addition to keeping track of the participation in the general market scenario, it is increasingly important to track the same indicators when new highs are claimed.
Nifty 50 managed to move past its resistance, but what do the breadth indicators say?
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.
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.
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.
Risk Management is probably the most important and the most undermined concept in the market. A great plan can turn into a disaster with bad execution. An average plan can turn into a success with good execution. It's the execution of the plan. That's where the magic happens.
