Business & Investment

Beyond the Market: Beyond the Market: 12 Things to Determine Stock Behavior on Thursday

Mumbai: Nifty50 As the benchmark index fell on Wednesday, it formed a bearish entanglement pattern on the daily chart. Analysts said the formation of the chart suggests that weaknesses are likely to continue.

Here’s how analysts can read market trends:

Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan at BNP Paribas, said short-term integration is expected to continue. Structurally, the index can take the form of a triangular pattern. This also means integration in the next few sessions.

Mazhar Mohammad on Nifty Recent low retests remain high as long as they are consistently trading below the 17,600 level in the next one or two trading sessions. “Advise traders to avoid buying in a hurry, but high-risk appetite position traders run short in the 17,700-750 level zone by setting stop losses in excess of 17,885 and looking for 17,500 targets. There is a possibility, “he said.

That said, here are some key indicators of Thursday’s behavior:

Wall Street slips with fear of tapering

The US stock index fell on Wednesday after a strong move in private employment in September fueled concerns that monetary stimulus would be tightened faster than expected in the face of rising inflationary concerns. At 9:55 am ET, the Dow Jones Industrial Average fell 316.84 points (0.92%) at 33,997.83, the S & P 500 fell 38.30 points (0.88%) at 4,307.42, and the Nasdaq Composite fell 105.65 points (105.65 points). Did. 0.73 percent, 14,328.19.

European stocks fall for fear of high inflation

London’s top stocks fell on Wednesday, pressured by concerns over rising inflation. Meanwhile, supermarket retailer Tesco outperformed the index with its annual outlook and strong performance in the first half. The FTSE 100 Index fell 1.2%, recording the worst session since August. Energy and mining stocks fell 2.6% and 1.7%, respectively. The broader Stocks Europe 600 fell 1.05% to 451.22.

Tech View: Avoid long positions

The weakness of today’s benchmark index has provided technical analysts with further evidence that current market consolidation may continue. Analysts said the Nifty50 Index’s immediate support zone would be close to 17,500-17,600 points. If these levels are maintained, the index will see a quick pullback.

F & O: Anxious VIX spikes

The surge in volatility after the decline of the last four sessions has caused volatility fluctuations again in the wider market. now, India VIX The index must cool down below the 15-14 point zone to maintain a smooth ride in the market.

Stocks showing bullish bias

Momentum Indicator Moving Average Convergence Divergence (MACD) showed bullish trading settings at counters at Jain Irrigation, Tata Coffee, HDFC Bank, UPL, Gujarat Gas and Sanghi Industries.

MACD is known for notifying the trend reversal of traded securities or indexes. When the MACD crosses over the signal line, it signals a bullish signal, indicating that the price of the security may rise or vice versa.

Stocks showing weakness in the future

MACD showed signs of bearishness at counters at Vodafone Idea, IDFC First Bank, Hinddalco Industries, Karur Vysya Bank, M & M Financial, IndusInd Bank, Religare Enteprises, Grasim Industries, Presitge Estates, Sunteck Realty, Gravita India and ICICI Securities. A bearish crossover at MACD on these counters showed that they were just beginning their downward journey.

The most active stock in terms of value

IRCTC (Rs 5153 Chlore), Tata Power (Rs 1792 Chlore), ONGC (Rs 1713 Chlore), HDFC Bank (Rs 1501 Chlore), Deepak Nitrite (Rs 1413 Chlore), Bajaj Finance (Rs 1373 Chlore), RIL (Rs 1224) ), Tata Steel (Rs 1121 Chlore), Bosch (Rs 1089 Chlore) and HDFC (Rs 989 Chlore) were one of the most active strains on Daral Street in terms of value. Higher activity at the counter in terms of value helps identify the counter with the highest turnover for the day.

The most active stock in terms of volume

Vodafone Idea (traded shares: 46 chlores), Suzlon Energy (traded shares: 16 chlores), YES Bank (traded shares: 12 chlores), Tata Power (traded shares: 10 chlores), ONGC ( Traded shares: 10 chlores, PNB (traded shares: 8 chlores), SAIL (traded shares: 5 chlores), BHEL (traded shares: 4.8 chlores), Coal India (traded) The number of shares traded: 4 chlores) and IRCTC (number of shares traded: 4 chlores) were one of the most traded shares. In a session.

Stocks that are willing to buy

Bosch, Deepak Nightlight, IRCTC, Tataerkushi and Nazara Technologies have shown strong buying motivation from market participants as they hit 52-week highs and showed bullish sentiment.

Stocks watching sales pressure

Quadpro ITeS, Inventory Growth and Krsnaa Diagnostics witnessed strong selling pressure, hitting a 52-week low and showing bearish sentiment at these counters.

Sentiment meter supports bears

Overall, the breadth of the market remained favorable to bears. 125 stocks in the BSE500 index settled the day in green and 375 shares settled in red on the day.

Podcast: What is the reason for the delay in selling today?

The BSE Sensex swirled in the range of about 900 points and then settled at 10 odd points below 59,200. This is about 555 points lower than the previous closing price. Nifty50, which traded in the 240-point range, gave up over 175 points and ended the day with less than 17,650. The BSE mid cap and small cap also cut to finish the day. Why did the market plummet in the afternoon session? How do investors need to protect their wealth and profit from this volatile market?

Beyond the Market: Beyond the Market: 12 Things to Determine Stock Behavior on Thursday Beyond the Market: Beyond the Market: 12 Things to Determine Stock Behavior on Thursday

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