Home / BUSINESS / Market Ahead : Bull or Bear
Market Ahead : Bull or Bear

Market Ahead : Bull or Bear


Nifty was down more than 3.5% in a week & shed almost half of the gains its recent rally due to weak global cues! It was visible on the charts as Nifty had formed a shooting star & spinning top candlestick pattern on the weekly charts which are bullish reversal patterns! On the weekly charts Nifty has formed a negative marubozu candlestick pattern with good volume which is a bad sign for the bulls!

Nifty closed at 9711 & next week can also be more painful if 9700 is broken on closing basis. This is because Nifty had formed a triple top at 9700, which when broken saw a continuous rally till 10150. Hence 9700 will act as an important support for the market which if broken can drag the index 200-300 points to 9530 & then 9350! For the next rally to begin Nifty should close above the 50 DEMA i.e 9780.


Bank Nifty & Nifty Metal were the two major sectorial indices which took Nifty to 5 digits. Hence, in the correction these are the two indices to stay cautious on as they will be the first draggers in the downfall. With PSU Banks posting highly disappointing results & Hindalco too disappointing with the results, these sectors can be looked on the short side! On the other hand IT sector didn’t participate in the downfall and with the gain in dollar index, IT companies can show a good rally & can act as a support to Nifty.


Bullish StocksTech Mahindra, Bata India.

Bearish StocksVedanta, State Bank Of India.


Our suggestion to all traders will be to stay light on long positions & hedge their positions by shorting the index if they take a long position in a stock. As the tensions between US & North Korea increase it is better to stay cautious & hedge your position as their can be a sudden gap down any day & no one will get time to cut their position on SL! Our suggestion to investors is to stay away from mid, small cap stocks & have cash in hand to enter at lower levels as this correction was much awaited and one will get quality stocks at lower levels. So sit like a hawk to enter at lower levels and don’t just jump at current levels as more pain can be seen ahead!

Disclaimer – All the above writings are just a technical view, research! Every person should do their own research before investing/trading. Our clients may have position in the above mentioned stocks!

Note: The article/calls and advice are subject to caveats. Postman News doesn’t bear any losses on these advices as such.


Check Also


Meet Hardik Gothi, the next-gen entrepreneur with a vision to change the real-estate and infra space!

Hardik Nitin Gothi, an entrepreneur from Mumbai having a 12 years’ experience in the real …

One comment

  1. हामिद अंसारी जी नमस्कार
    भारतीये होने पर गर्व करे और अपने कॉम्ब के लोगों को ये बताये की देश बदल रहा है। आप को अपने आप पर भरोसा होना चाहिये और देशवासियों द्वार चुने हुए प्रधान-मंत्री पर विस्वास येह वोह पुरुष है जिन्होने पूरी दुनिया को देश को लोहा Manwa दिया।
    आपके कार्यकाल me अपने क्या किया है जिससे देश का गौरव बरा हो?
    अगर कुछ कर सकते है तो ठीक वर्ना गन्दगी Na फैलाये।

Leave a Reply

Your email address will not be published. Required fields are marked *

Postman,Postman News,Postmannews,Piyush Goyal education,Suresh Prabhu education