Another day gone.
NIFTY maintained its upward streak for the eighth day. It added another 47.75 pints and closed above 10500 comfortably.
But we atr not trading NIFTY. We have already made our selections and they are doing whatever is to be done for us. INDUSIND bank did not gain much yesterday but made the 52 week high. TECHM gave up few points after making a new 52 week high.
NTPC was among the top 5 gainers for the day.
Good show by the BUY selections.
On such a day, the SELL selections should hurt. But they maintained either neutral or down trend. Good for us. The losses in the SELL trades came down a bit as per the yesterday price moves.
We are still looking at a losing performance but TATAMOTORS ( -4.78% ) was the top loser yesterday. SBIN also has come down considerably over last few sessions.
HINDPETRO looks like continuing its down spiral.
We stay with the trades both on the BUY side and SELL side.
Both sides are showing the required trend so we do not exit at this point of time.
What about the trend going further ? :
Can anyone really know?
We are proved wrong almost everyday.
But there are ways to convince yourself either way.
Let us look at the Top 5 Gainers and Losers yeterday:
None of the Top gainers yesterday was from the Top 10 weighted stocks in NIFTY.
Whereas we are having INFY as one of the big losers.
The gain yesterday was not led by the market leaders. Either those stocks may participate in the rally and take the NIFTY above 11000 over next few days or this rally may fizzle out soon due to non participation by the heavy weights.
I am more inclined towards the downside. Not that I am sure but one has to have a view.
Market opens in a few minutes.
Trade cautiously , trade profitably.
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.