Stocks and commodities have been the best place to be in. We've been saying this for a long time now. The other thing we've been saying is that Currency has been a downer in the last few months. Anyone who's been trading in currency would be better off investing in a different asset class!
Does the same view hold true going forward? Let's find out.
Nifty 50 witnessed a strong move of 4.74% on Monday as the index bounced back from lows to close near the high of the day. Does this change the way we look at the short-term trend in the market?
This week we're looking at one long setup and one short setup. The sectors we're focusing on this time are Manufacturing and Media.
As long as the short-term weakness in the market is in place, we will look for selling ideas that fit our risk management and time frame prerequisites.
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.
The market had given us an indication of a weakening short-term momentum at the end of last week. We thought this would be a good time to go through the sectoral indices to identify strengths and weaknesses.
At All Star Charts we follow a top-down research approach whereby we track all the asset classes and global markets in order to arrive at our view. In our weekly analysis, we carried out the same process and saw a pattern worth mentioning.
This week we're looking at one long setup and one short setup. The sectors we've identified are Consumer Durables for a bullish trade and Financial Services for a bearish trade.
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.
Nifty 50 has gone ahead and given us a signal of caution after a relentless rally. While we have seen days of a pause in short-term momentum in the past, this time around there's a slight difference.
Let's take a look at the daily chart to see what we've got here.