In the meantime, one of the top benefits of the week, Geo Financial may still have some interest in the tank, though James warns that this speed is not yet strong for fresh entries. In a chat with ET markets, it decodes the July Setup, FII Shift and its top trading pick.
The Nifty broke the 31-day consolidation phase on Thursday’s monthly expiry. Now how do you read a velocity building for the July series?
The highest registered last week, the most registered, respectively, closed the week on a positive note with 79% of their Nifty 500 stocks and 69%, respectively. But withdrawal of interest was registered nearby. While the Nifty pushes about 29% of the stocks of 500 stocks, only 11% has managed to close it. Also, more than 66% of the Nifty 500 stocks withdrew at least 1% from their day’s s. In this background, it is noteworthy that the Nifty is now far from its 10 DMA, from May 15, after we entered the period of consolidation. We expect this in the coming weeks too. “We are optimistic about a wider attitude of up to 26,200-500, after consolidation,” he said.
Given the rollover data, FIIs indicate a long-short ratios that are creating fresh conditions. How do you read fii positioning?
After hovering around 20 or down for most of June, a sudden increase of up to 38 in a long short ratio indicates that FIIs are more optimistic. Although long conditions have not been added to a significant amount, the cover of the shorts remains large enough that at least indicates that the bearish danger has come down significantly.
The Nifty and the Nifty Bank are usually positive in July. The banking index has already reached a fresh record high. Will July bring good news for the Nifty too?
July continues to look favorable for the Nifty, supported by strong interior width and bank Nifty leadership. In terms of trend power, 100%bank Nifty stocks are above 10-DMA, 83.33%above 20-DMAs, and 91.67%than 50-DMA-system. The Nifty, in the meantime, holds the same way: 82% of its stocks are above 10-DMA, 86% above 20-DMA and 78% of 50-DMA. It is noteworthy that the Nifty is trading in 24% of the stocks of the Nifty, compared to just 16.67%, compared to only 16.67%, indicating some near -term overboat terms in the Nifty. Given the weekly performance, the bank Nifty and the Nifty 50 show a dominant price action, with the Nifty 50 84% and 100% of the bank Nifty closure closely, confirming the solid Ward -rich speed. HIST, July Nifty 50 and Bank Nifty indicators have been a boom for both. Over the past 15 years, the Nifty 50 has given a positive return of 73% of the time, with an average of 4%. This trend is often attributed to the re -recovery procurement after June, and the optimism of earning early Q1 fuel the spirit of the investors, which contributes to the upper motion. Bank Nifty, known for its high beta and sensitivity to economic signs, has led the Nifty 50 in Julie, most of the boom. He average%in July. Has posted 66% of the time with %® return. Bank Nifty has returned an average of 8.6% in Q2 Q2, with 60% of years showing positive performance. Meanwhile, the Nifty 50 has been positive in 73% of the Q2, the average compensation is 7%.
Generally in July, in the bullish season game, if widespread partnerships improve and investors avoid heavy profit booking, the Nifty can join the rally and probably move towards a new S..
Geo was one of the top Nifty gainers in the Financial Week and ended 10% more. Please study the charts for us and let us know how strong does the velocity feel for the new week?
The two consecutive days above the upper bowler band shows the strength but the directional moving indicators suggest that the velocity is no longer strong to assure the new entry. Ideally, Rs. The 321-323 region presents exit points for those who have entered stock in June. For those willing to press with their existing positions to earn a potential expansion in the uptrend, Rs. 341-345 can be marked as close objective, but we have no reason to keep stop loss less than 314.
Give us your top ideas for a week ahead.
Road (CMP: 999)
See: Buy
Target: 1200
SL: 899
The base-building phase, which started in March, is still ongoing. Recently, trendline support was bounced at 964 in the stock and seemed to be adjusted for a potential pullback. The daily smooth is close to the top of the zero line, and the monthly chart has a verbal hammer candlestick pattern – which is often considered a reversal signal – which supports our pullback assumption.
We expect the stock to move to 1,200 in the near term. All long positions should be protected from a stop-loss below 899.
JBMA (CMP: 642)
See: Buy
Target: 665/698
SL: 614
The stock is at the Pullback phase and is currently contacting a 50% Fibonacci retracement level, which shows a potential contrast. The Daily MACD histogram is showing initial signs of fatigue at the lower level, while the 14-day RSI reverses from the oversold field-indicates potential benefits in motion in the coming days.
We expect the stock to move towards 665 and 698 next week. All long positions should be protected from a stop-loss placed below the 614 layer.
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