DRAGONFLY DOJI
F&O Radar: Deploy Iron Butterfly strategy in Nifty to benefit from declining implied volatility
Deploy Iron Butterfly strategy in Nifty to benefit from declining implied volatility. India VIX is down to 16 levels post Modi cabinet announcement. Dragonfly Doji formed on the weekly chart. ADX below 20, RSI at 58.75, ATR at 402 levels.
Why investors are favouring FMCG stocks after elections
One key reason behind FMCG becoming a preferred choice in today’s time was this year’s general election. It was the most expensive affair with an estimated campaign cost incurred by political parties reaching a record Rs 1.35 lakh crore. A significant share of this pie moves into the pockets of rural India.
Bull run extends: Sensex surges 358 points to end at fresh record high powered by IT, energy stocks
Meanwhile, the market capitalisation of all listed companies on BSE increased by Rs 2.56 lakh crore to Rs 349.02 lakh crore. Among Sensex stocks, Wipro, ITC, TCS, and L&T were the top gainers, rising 2-4%. Tata Motors, Nestle India, Infosys, M&M, and Reliance also ended in the green.
Stock to buy today: IndusInd Bank, Cochin Shipyard and SJVN top buy ideas for 8 November
On the weekly options front, the maximum Call OI is placed at 19500 and then towards 19600 strikes while the maximum Put OI is placed at 19300 and then towards 19200 strikes.
Ahead of Market: 10 things that will decide stock action on Monday
US stocks closed sharply higher on Friday with technology shares, as investors assessed Friday's jobs report that showed US hiring rose broadly in September but also that wage growth was slowing.
46 smallcaps log double-digit weekly gains in subdued market
Vascon Engineers was the top gainer in the smallcap pack with nearly 24% returns, followed by Sasken Technologies (23.6%), Bhagiradha Chemicals (22.2%), and Authum Investment (22%)
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Tech View: Nifty may show resistance at 19,800. What traders should do next week
The short-term trend of Nifty has turned positive. The overall positive chart pattern indicates next overhead resistance for the Nifty around 19,800 levels for the coming week. Any dip down to 19,550-19,500 levels could be a buying opportunity, said Nagaraj Shetti of HDFC Securities
Stocks to buy today: Infosys, D-Mart among top 9 trading ideas for 5 October
Synopsis: India VIX was down by 1.15% from 11.78 to 11.65 levels on Wednesday. Volatility has been hovering in a choppy manner with the absence of strength to the bulls.
Ahead of Market: 10 things that will decide D-Street action on Thursday
The Nifty 50 fell 0.47% and ended below the 19,450 level, while the S&P BSE Sensex declined 0.44% to 65,226. Eleven of the 13 major sectoral indices logged losses, with index heavyweight banks falling 0.98%. Public-sector banks and realty lost 2.83% and 1.73%, respectively
Tech View: Nifty forms Dragonfly Doji candle on charts. What traders should do on Thursday
The short-term trend of the Nifty remains negative. A decisive close above 19,500 levels could possibly open an upside bounce towards 19,650 levels in the near term. Inability to sustain the upside bounce or a decline below 19,330 is likely to trigger fresh weakness for the market ahead, said Nagaraj Shetti of HDFC Securities.
Investors lose Rs 2.49 lakh crore as Sensex extends losses to 2nd day, falls 286 pts
From the Sensex pack, Axis Bank and SBI were the top laggards, declining 4.7% and 2.9%, respectively. IndusInd Bank, NTPC, UltraTech Cement, and Bajaj Finserv also ended lower. On the other hand, Nestle, HUL, HDFC Bank, TCS, and Infosys closed higher
These 6 smallcap stocks signal bullish reversal on candlestick screener
On the candlestick screener, a bullish reversal pattern helps identify stocks that have the potential for an uptrend from the current downward zone. Here are small-cap stocks that have formed an Inverted Hammer pattern and hint at a bullish reversal in the future. (Source: StockEdge)
Tech View: Nifty forms Dragonfly Doji on weekly scale, signals trend reversal
A few analysts said Friday's fall could just be a single-day affair, but for that to be true the index needs to close above the 14,500 level on Monday, they said.
Tech View: Nifty forms Dragonfly Doji, but charts supportive of rally
Aditya Agarwala, Senior Technical Analyst at YES Securities, said the index has closed beyond the channel resistance line, confirming the bullishness.
Tech View: Nifty forms Dragonfly Doji; analysts advise utmost caution
“Despite trading in a positive zone, the indecisive price actions were accompanied by narrow trading range in last three sessions and overbought readings on the momentum oscillators. That said, the technical indicators are yet to generate sell signals,” said Mazhar Mohammad of Chartviewindia.in.
F&O: Bulls stage a comeback; Nifty now has to hold 13,500
Nifty has to hold above the 13,500 level to witness a bullish bias and move towards its lifetime high in the 13,750-13,777 zone, while on the downside, major support exists at 13,333 and 13,131 levels.
Tech View: Nifty bulls invincible, but keep an eye on 13,650 level
This rally can be a cause for concern, hinting at outlandishly bullish sentiment, said Mazhar Mohammad of Chartviewindia.in. He said a close below 13,650 level can act as a harbinger of near-term weakness on the index.
Tech View: Nifty forms 'Dragonfly Doji' as bulls, bears fight for upper hand
Nifty50 seems to be in a no-trade zone, as is evident from the fact that neither the bulls nor the bears were being able to have an upper hand by the end of the session, said Mazhar Mohammad of Chartviewindia.in.
Ahead of Market: 12 things that will decide stock action on Tuesday
Nifty has again got stuck in broader range and requires to hold above 11450-11500 zones to get the bullish stance for a move towards 11750-11800 zones, while on the downside, immediate support exists at 11250-11200 zones.
Tech View: Nifty forms Dragonfly Doji, has support at 11,250 level
A rise above the 11,407 level, which is the index's 20-day moving average, could show initial sign of strength, analysts said. Support for the index is seen in the 11,200-250 range, they added.
Tech View: Nifty50 forms indecisive Dragonfly Doji; but may head to 9,500
A Nifty breakout can take the index higher by 200 points, said Manav Chopra.
Types of dojis
Among dojis, dragonfly and gravestone dojis are more important, and therefore, need special mention.
Tech View: Nifty forms Dragonfly Doji, negates higher highs & lows
Mazhar Mohammad of Chartviewindia.in advised traders to remain 'neutral' on the index.
Tech View: Nifty forms Dragonfly Doji, must top 11,770 to end consolidation
Some analysts on Dalal Street saw Tuesday’s fag-end rebound as a sign of recovery.
Tech View: Nifty forms ‘Dragonfly Doji’ on weekly chart; more upside likely
The 50-pack index on Friday rose 108.35 points, or 1.04 per cent, to settle at 10,491.05.
Tech view: Nifty50 forms Dragonfly Doji; but weekly chart looks bullish
Chandan Taparia says the downside support for the index is placed firmly at the 10,600 level.
Tech view: Nifty50 forms ‘Dragon Fly Doji’; may be headed for 9,400
The formation of this candle pattern is generally seen as a potential turning point.
Tech View: Nifty50 forms 'Dragonfly Doji' pattern; exercise caution
A Dragonfly Doji-kind of formation suggests that the forces of demand and supply are balancing with each other and trend is nearing a potential turning point.
#1 trading strategy for today’s market: Nifty50 breaking 8,800 can fuel a rally
The domestic market rallied in line with the Asian markets after weak US data reduced the already low chances of an interest rate increase by the Fed.
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