Update of market possibilities analysis for upcoming week from20 march
Markets are like a lift or a train where somebody gets in for some aim and gets out at some station and few catch the wrong train. So let me brief in a coherent weay so that you can feel connected.
I am taking yearly average price as a base and comparing it with quarterly and weekly price so that a broader view for upcoming week can be estimated.
March starting, the market tested the 200 DMA and started symmetrically consolidating with volume on both sides of the moving average. The swing high was 17865 on 8th march and swing low was 16818 on 15th march. The last two days market showed bullish piercing marubozu candle with a strong recovery but limited to 17100 as a new resistance. As per my experiences, news became the reason for anticipation, but real cause was positioning and strategy to book profits near high and buyers waiting for new entry at some far down levels, but this also causes a fear among buyers and they trapped with a thought ‘let’s wait, we will buy when market rise again’. So how can someone make money by buying at high and selling at low. This takes us to know what exactly the institutions holding big money are doing.
FII/FPI made a net purchase of 6408.19 crore from 1st march to 17th march and DII’s made a net purchase of 16162.40 crore.
What we did in our research? We added new stocks from our watchlist, which were there for a long time and took entries near their bottom. This is not a recommendation for you to go for it. As we select the stocks which have real businesses and we have given enough time to join their growth story. Consider consulting with your investment adviser before investing.
From the Desk of
Research Analyst Gaurav Sharma
Founder of gauravsir.in
https://gauravsir.in/swing-trade-opportunities-gulluck-by-gaurav-sir/Disclaimer: These observations should not be considered as recommendations. consult with your investment adviser before taking any investment decision. I am a SEBI registered Research Analyst but not an Investment Adviser.