Here's a collation of top ten data points that can help you in spot profitable trade.
While the Nifty may remain on a consolidation path, stock-specific movements could be the flavour of the week. Here is a list of top five stocks to track based on technical parameters.
A 'doji' is formed when the index opens and closes approximately around the same level, but remains volatile throughout the day. This is indicated by its long shadow on either side. It appears like a cross or a plus sign.
During a period where the market is creating whipsaws within the trading band of 200 points, the current rally would gain credence only on a convincing move above 9,160. Here is a list of top five stocks to buy based on various technical parameters
Formation of a bullish belt hold pattern after an inverted hammer is indeed a positive sign for the bulls and traders who went long on the index need not worry and keep a trailing stop loss at 9,019 levels for all long positions.
Bulls need to be cautious from here and a trend reversal will only happen if there is formation a bullish candle on Thursday. Top four stocks to buy which are looking attractive based on technical parameters.
A 'Bearish Belt Hold' pattern is formed when the opening price becomes the highest point of the trading day (intraday high), which means that there is a small or no upper shadow and the index declines throughout the trading day which make up for the large body and a small lower shadow
Many events in daily life of humans, animals and in nature display a repetitive pattern. Patterns are seen in stock markets too.
Since pushing above USD 50 per barrel, crude has taken a bit of a breather. Nevertheless, at least one chartist thinks oil is heading toward fresh highs.
The Indian market is in the midst of a "raging" bull run, underpinned by technical strength as can be seen from the Dow Theory viewpoint, says Gautam Shah, Associate Director and Technical Analyst, JM Financial.
Many believe that a good trading system will make them an ace trader. However, it is the money management that calls the shots.
Indian shares rose today, adding strength to its recent bounceback and prompting analysts to say that a near-term relief rally is under way even as the medium term outlook continues to remain clouded.
Analysts warn that despite yesterday's pullback, the trend continues to remain down and that investors must stay cautious till there are signs of consolidation.
Vivek Patil, who saw the ongoing market crash last year, says the Sensex can sink to 15,000 levels.
It allows reading and interpreting large quantity of data in a few seconds. The traders need to be aware of this new player in the market.
With selling intensifying in the past few days, technical analyst Sushil Kedia says the ongoing correction has further legs to go but adds that there is a pot of gold at the end for investors who can ride the pain.
In an interview with CNBC-TV18, Rahul Mohindar of viratechindia.com said the Nifty has found support near the 7,750 mark though it could go on to test 7,650 in the near future.
In the long term, if the management is good, the business grows, end up rewarding the shareholders. Also the tax incidence is nil.
Technical analyst Vivek Patil says traders should avoid outperformers of the last rally on the downside and take exposure to "sunrise sectors" on the bounce back.
In an interview with CNBC-TV18, Guppy said he did not see any â€œend-of-trend patternsâ€ on both the Sensex and the Nifty and held out a target of 30,500 and 9,300, respectively, on both. â€œThere is very low probability of the start of a downside.â€
After breaking below the crucial 8,000 mark yesterday, the Nifty managed to close above the level today, by virtue of a 0.5 percent gain on the benchmark.
Atul Suri tries to explain the details and the processes involved in a technical analysis of the markets.
Jeremy du Plessis, Head-Technical Analysis and Product Development at Updata explains to CNBC-TV18's investors what point and figure charts are.