We retired our "Five Bull Market Barometers" in 2020 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.
It's that time of the month when we zoom out and look at the bigger picture (seems like a good time to do that, don't you think?) The market has been trying to make sense of the trend, so let's try and do that as well, shall we?
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.
Nifty Auto has been gaining strength over the past week. We're seeing some follow-through there and hence, today's post will discuss a stock from the same sector.
We retired our "Five Bull Market Barometers" in 2020 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.
It's been about over a week that the market has churned sideways. In every sideways market move, there are some areas of strengths and weaknesses.
Currently, we're looking at a minor strength coming through in the Auto index. There have been some signs of this strength off late. But we're going to focus on just a few charts here to communicate what we're referring to here.
The Auto index has been moving sideways for longer, compared to the broader market. Presently, the index just about marked a new high since February this year.
We can see in the chart below that 10,400 has been a crucial support zone for the index. Bouncing off the same level, the price is now making a move towards its resistance near 12,130. In this move, certain stocks have displayed strength in the current market environment.
We retired our "Five Bull Market Barometers" in 2020 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.
Gold as a commodity is close to the heart coming from India. It is generally the first instrument of investment. Most often it's also the first gift for a newborn baby. We also have important days such as Akshaya Tritya and Diwali when retailers consider buying gold auspicious.
The inherent faith in the yellow metal to save us from bad days has been a part of the psyche for a long time. With that in mind, the levels to track in Gold become important from a personal and professional standpoint.
Gold has been battling several levels of resistance for a while now. The last time that Gold was making waves in the market was in August 2020 when the price traded close to 56,200. Since then, the price has been on a sideways journey.
In the week gone by, the price slipped below the support of 50,670.
So what are the levels we're tracking now after this move? Let's take a look!
Not much has changed in terms of the market trend. What we're observing keenly is if support levels hold in the short-term scenario. There are bouts of strength coming through in certain sectors and today's stock comes from the FMCG sector.
We retired our "Five Bull Market Barometers" in 2020 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.