Stockology is a weekly column by futurologist Mahesh Gowande. He is the founder and director of Ayan Analytics which has developed ZodiacAnalyst. It is a research software, with time and price charting tools, and it is exclusively used along with technical support.
The recovery in market sentiment was more on the back of the pullback, which was expected. Retail participation is reduced on the back of small corrections in mid- and small-cap sectors. It is human tendency to hold loss making positions and exit profitable positions. Expectedly markets broke the previous low and opened new downside levels. Selling in technology is not a surprise and smart gains in banks are also as expected. We believe movement was inline as per the TimeMap.
Technical - Market, being investor friendly, generally gives exit opportunity after sell signal gets triggered, a nice pullback which could continue in the next week has given opportunity to exit from the trapped positions. We also believe that downside levels will take some time but will get adjusted. The confirmed level as of now is 21,510 it must come; time correction would not adjust this level. The coming week is very short, and most likely lower opening will attract specific buying from the funds, who would prefer to maintain the NAV. Index movement is showing strength as from the low already recovered more than 50 percent, which means further rise cannot be ruled out and it can rise to 78 percent level, which is 22,342.
TimeMap – It is showing a positive week ahead. Since there are just 3 days trading nothing much will be written, but we feel the period is slightly positive, especially the Wednesday and Thursday. There are no major planet aspects, which will make markets simple and easy to track.
March 26, 2024: Tuesday: K.1: Hasta: Good Day
Gap down opening will be positive indicators. Sentiment in the markets would be positive, and most will be on the wrong foot as many stock prices will decline, and the fall would be steep. Post lunch selective high beta index buying would begin, and that will bring recovery. BTST is recommended.
March 27, 2024: Wednesday: K.2: Chitra: Bullish Auspicious Day
Chitra Nakshatra gives the best gap opening, and they are most on the direction of the trend, which is positive and will indicate further rise. Private banks, metals and selective mid-caps will do very well.
Auspicious day, we recommend starting new trading positions, and new accounts. BTST is indicated.
Also read: Daily Voice: This fund manager suggests caution before polls, sees better value in large-cap stocks
March 28, 2024: Thursday: K.3: Swati: Bullish day
Tithi 3 gives directional move in the markets, more often bias is positive. Nakshatra Swati is the most auspicious to invest aggressively. Today is the last day of the financial year, and derivative month.
Happy New Financial year 2024 -2025
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