Monday, 21 May 2018

Market Set up for Tuesday, 22nd May

147 Scripts made high and 127 stock made all time fresh low mostly include Mid cap and Small Cap

This is the continuously  8th day  and 6th trading day,

 Market closed with bearish sign  and sell signal, today it has also given confirmation of sell of last week bearish signal by closing below 10545. Next support is visible at 10500 and 10460 which must support the market which is given handover completely to bears in following global clues, high crude pries and local high inflation and expected rate hike.

One side, today 147 scripts made 52 week high and other side 128 stocks made all time fresh low on BSE which include mostly Mid cap and small cap.

In this given scenario traders should avoid bottom fishing and must look for selective strong scripts on bases of strength and performance and hold the performer rather than looser. The broader markets under performed front liners following dismal earnings, with the Nifty Mid cap index declining 321 points on weak breadth. About four shares declined for every share rising on the NSE.
Nifty Bank, Auto, Pharma, Metal and Realty indices were down up to 3.3 percent.
I will share my view  call option data and list of stock showing strength separately in next post today evening.

1.     Stock Showing Strength In the Market (Click here)

2.     call-put-option-data-analysis

Views are completely personal as per observation.