Market outlook

Daily charts:
- trend is up on daily charts (wef today)
- markets closed above swing high defined yesterday
- today's close was 1.6% in positive at 11032

- new swing low defined at 10800

- AD was 10:7

- see hourly chart for channel

NOTE:
- the fall from 11700 to 10800 has been without any pause
- is a bottom is formed for this year or is a pullback rally happening? I don't know
- a slower upmove from here can mean the bigger correction will resume later on
- another possibility is a rally max to 11500 which then stalls
- trade accordingly with your stops in place

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.8% negative at 10855
- AD was flat (good sign)

- today only 166 stocks made new 52 week lows
- this is a good sign

- small swing high formed and identified around 11000

- only problem is VIX was up 5% today/ not coming down at all

Hot stocks and charts

ASIANPAINT

Expect scamsters to take advantage of PSUs

Read more at https://economictimes.indiatimes.com/news/economy/policy/auto-home-car-loans-in-just-59-minutes-india-could-be-looking-at-a-major-gamechanger/articleshow/70552385.cms

ASIANPAINTS at all time high... what's cooking

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 0.8% in positive at 10948
- this was the first time after a long time that index actually sustained above prev day high
- AD was 13:5

- this is not the start of a new rally
- this is just a technical pullback after a deep correction

- note markets could not hold above 11000

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 1.2% in negative at 10863
- AD was 5:13

- VIX up 9%
- today 500+ stocks made new 52 week lows

- next support 10600-10000

The crash of 2019 (automobile industry)

The slump in the Rs 8.3 lakh crore automotive industry, which employs around 32 million people (directly and indirectly), is evident in the falling quarterly sales numbers and the closure of nearly 300 dealerships across India. For this to happen in an industry that was seen as a success story-with consultancy McKinsey & Co projecting just last year that India's passenger-vehicle market would become the world's third largest by 2021-has been a body blow to the Indian economy.

The entire automotive ecosystem-from original equipment manufacturers (OEMs, industry parlance for car manufacturers) to component suppliers to dealerships and aftermarket service providers-is saddled with idle production capacity and unsold inventories. And since this industry accounts for 22-25 per cent of India's manufacturing GDP, the slowdown threatens to destabilise the country's already-tottering economy. Underlining this, on July 24, Ram Venkataramani, president of the Automotive Component Manufacturers Association (ACMA), said that if improvements do not materialise, around 1 million jobs could be lost-20 per cent of the total employment in that sector.



Read more at https://www.indiatoday.in/magazine/cover-story/story/20190812-the-crash-of-2019-1576008-2019-08-02

NIFTY weekly charts

- markets rangebound
- Jan 2018 end markets were at 11070
- and today we are at 11000
- support 10000 resistance 12000

 

Which stocks have done extremely well in this correction?

NIFTY is down from 12000 to 11000 but these stocks have done very well.

If the markets reverse  from here, money will flow after these stocks

Top gainers in 100 days

Get jailed if you do not social service? Ridiculous

Read more at https://economictimes.indiatimes.com/news/company/corporate-trends/jail-term-for-csr-violation-makes-firms-anxious/articleshow/70506775.cms

This is the reason why JNU graduates should NOT be hired for key positions?

— देशी ज्ञान (@polibolly_in) July 30, 2019

Physical register, Director photo, Office photo, Director KYC, Aadhar, PAN, Mobile phone...what next - DNA fingerprinting, Babu attestation, Birth/Life certificate ! Are entrepreneurs presumed guilty unless proven otherwise ?
Nehru should be proud...@narendramodi @PMOIndia !!

— SunilH (@hsunil10) July 31, 2019

BANK NIFTY trend

- trend is down
- recent/ significant swing low 28500 is broken
- but huge support area around 27800
- hopeful of a pullback rally

NIFTY at support zone

SENSEX at double bottom/ good support

Update on delivery calls

Last position was exited in March 2019

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed flat at 10997
- AD was 4:5 (not bad)

- today 470+ stocks made new 52 week lows

- volatile market after 1pm
- trading range was 230 points intraday

- is a bottom being formed?
- wild swings are common near tops and bottoms
- let's see

We are in a roaring bear market

Technically, a bear market is defined as a correction of more than 20%. By that measure, it may seem like a relief, since the Nifty 500 index has fallen about 10% from its high in early June. 

“You don’t need to look at the index. If you have 500 companies at 52-week lows, and not even 5 companies at their highs, then there is no question this is a roaring bear market," said Raamdeo Agrawal, joint managing director at Motilal Oswal Financial Services Ltd.

Read more at https://www.livemint.com/market/mark-to-market/why-govt-should-take-off-earmuffs-and-hear-the-roaring-bear-market-1564678023284.html

Why you should ignore news etc

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 1.2% in negative at 10980
- AD was 5;13

- support 10600 resistance 11400

Entrepreneurs Don't Retire... They Die" Secret Diary of VG Siddhartha

Read more at https://www.outlookbusiness.com/specials/secret-diary-of-an-entrepreneur/entrepreneurs-dont-retire-they-die-2904