We are in Bearish Trend, on friday we have some sign of recovery from the bottom.
Few points to be noted when everyone is screaming a buy and go long from now -
Fundamentals -
1. FIIs are still selling heavily and only DIIs are buying, from past learning we have noted the price grip is with FIIs only.
2. We have a suspect event coming up next week related to our national security which can be a negative sign for market.
3. We are getting a likely sign of relief from PMO and Finance Dept for FPI and 35% holdings - we need to watch closely how globally we trust on this sign and how we take this forward.
Overall - NEGATIVE on fundamentals
Technical -
02-Aug-19 Data - O:10930 H:11080 L:10849 C:10997
Range: H-L - 239 - (what a range!!!)
On 1st Aug - we have entered in a zone of - Resistance - 10980 and Support - 10600.
Friday we manged to close above Resistance - 10980 but the reversal to turn bull will not come until we cross 11150 or if week goes sideways then we have to wait for further sign of reversal.
Any negative fundamental will take us to support of 10600-10400 over a week, for positive bull grip we need to wait and watch for further sign.
Overall - Negative on Technical
Stocks can be bought when NIFTY is strong and stable.
Stay tuned for Stock Analysis.
Few points to be noted when everyone is screaming a buy and go long from now -
Fundamentals -
1. FIIs are still selling heavily and only DIIs are buying, from past learning we have noted the price grip is with FIIs only.
2. We have a suspect event coming up next week related to our national security which can be a negative sign for market.
3. We are getting a likely sign of relief from PMO and Finance Dept for FPI and 35% holdings - we need to watch closely how globally we trust on this sign and how we take this forward.
Overall - NEGATIVE on fundamentals
Technical -
02-Aug-19 Data - O:10930 H:11080 L:10849 C:10997
Range: H-L - 239 - (what a range!!!)
On 1st Aug - we have entered in a zone of - Resistance - 10980 and Support - 10600.
Friday we manged to close above Resistance - 10980 but the reversal to turn bull will not come until we cross 11150 or if week goes sideways then we have to wait for further sign of reversal.
Any negative fundamental will take us to support of 10600-10400 over a week, for positive bull grip we need to wait and watch for further sign.
Overall - Negative on Technical
Stocks can be bought when NIFTY is strong and stable.
Stay tuned for Stock Analysis.