Strength from the leaders was able to keep the intermediate bullishness intact. India King's leadership continues for the 3rd consecutive day against the major indices. With 5550 on NIFTY posing a stiff resistance, there seems to be more to come on the bullish side before there is any change in direction.
Telecommunication and Financial Sectors registered good gains today. Front line Telecommunication stocks gave a good closing, but Telecom is one of the weakest sectors in the market today. Among Financial's, Leasing & Hire purchase index gave a strong move. Here we find that it is not the prominent one's that is leading the rally, hence it is sceptic.
On the Day Trade section we had two good long trade one each in NIFTY and RELIANCE. Reliance struggled to reach target even with good surge in volumes at break out levels, while NIFTY made a smooth move which held on close too.
Plastics Industry which is one of the top rated Industry groups at present has made it to the top gainers list for the 3rd day in a row. Jain Irrigation is pulling up the index, but the stock does not show good patterns. This stock is followed by VIP on the rally. VIP is one of the top ranking stock in the Price Relative strength rating.
Computer Software Training Index is showing good strength staying at the top of the industry list today. EVERONN, one of the leading stocks in the CST index made it to the top 10 traded value based stock today.
Many of the stocks that are in the top 10 Price Relative strength rating list have given way to bearishness like KARUR VYSYA with a down freeze and JUBILANT registering considerable erosion in their price.
Our managed futures trading account on NIFTY futures in the trend following category registers a new high today with a 30% gain in about 100 days from the commencement of trading.
Telecommunication and Financial Sectors registered good gains today. Front line Telecommunication stocks gave a good closing, but Telecom is one of the weakest sectors in the market today. Among Financial's, Leasing & Hire purchase index gave a strong move. Here we find that it is not the prominent one's that is leading the rally, hence it is sceptic.
On the Day Trade section we had two good long trade one each in NIFTY and RELIANCE. Reliance struggled to reach target even with good surge in volumes at break out levels, while NIFTY made a smooth move which held on close too.
Plastics Industry which is one of the top rated Industry groups at present has made it to the top gainers list for the 3rd day in a row. Jain Irrigation is pulling up the index, but the stock does not show good patterns. This stock is followed by VIP on the rally. VIP is one of the top ranking stock in the Price Relative strength rating.
Computer Software Training Index is showing good strength staying at the top of the industry list today. EVERONN, one of the leading stocks in the CST index made it to the top 10 traded value based stock today.
Many of the stocks that are in the top 10 Price Relative strength rating list have given way to bearishness like KARUR VYSYA with a down freeze and JUBILANT registering considerable erosion in their price.
Our managed futures trading account on NIFTY futures in the trend following category registers a new high today with a 30% gain in about 100 days from the commencement of trading.
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