Friday , the 13th also has come and gone.
For 7 days continuously, NIFTY has gone up. Do we have such fantastic business environment and business growth around us to merit this?
The opinion is divided. There are those who are waiting for 10600 levels and then 11000 onward.
And there are those who swear that very soon we shall be below 10000 levels.
For the record, we are at 10480 on Friday April 13, 2018.
Our selections included 4 BUYS and 9 SELLS.
At one point, nothing seemed to be going right. Now we are right in 4 cases. Not a grand show ( like it was in March 2018 ) but there is still time to go. At least few trades have turned the direction now and with a good move over next one or two days, we can be in comfortable positions.
This is how our selections ended up on Friday:
This chart looks good. TECHM made a really decent move on Friday.
Not a very happy looking chart but it is far better than what it was three days ago. These stocks had exhibited weakness and few of them had touched 52 week lows on more than one occasion in March. That is a strong SELL sign. But things can go wrong in the markets in no time. We are seeing that happening.
But even at this stage, all is not lost.
I would still stay with these selections and expect some of them to correct sharply over next few days.
SGX NIFTY looks like this , some 30 minutes before the market opening.
With this kind of indication, our SELL selections may show better results today. All the same it will impact the BUY stocks also.
Let us just watch what the market does for us.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.