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September 16, 2024

As per market veteran, frustration lingers in large-cap stocks leaving HNIs uneasy. Traders get stuck in A group stocks unable to exit due to losses as action shifts to B group stocks. Permanent bulls and bears come and go but only a few survive the volatile swing. After all, every day is not Sunday!
As per astrology view some important turning dates are 17, 23, 26 & 30th September 2024.
As per a market grapevine, NSE became the 7th most valuable global stock exchange in 2024 with 67% YTD return. With 30%+ growth over the last 5 years and a PE of 32x, it is positioned for further growth compared to peers in mature markets.
As per a market veteran, despite widespread fears of a deep correction in September, optimism remains high. With Nifty nearing 26,000 and Diwali 2024 on 31st Oct 2024, the market is expected to hit new highs. Consolidation around 25,000-25,500 marks a tipping point while factors like US bank sell-offs and FPI shifts to under-owned stocks create opportunities for quick gains.
RSI (Relative Strength Index) is a popular technical indicator used to assess stock momentum and identify potential price movements. It calculates the ratio of average gains to average losses over a set period, typically 14 days. How to interpret RSI: 1. Overbought: RSI above 80 suggests a stock may be overvalued and could face a pullback. 2. Oversold: RSI below 30 indicates a stock may be undervalued and could see a bounce. 3.Neutral: RSI between 30 and 70 indicates a balanced market.
RSI Signals: 1. Bullish divergence: RSI forms a higher low while stock price hits a lower low. 2. Bearish divergence: RSI forms a lower high while stock price hits a higher high. 3. Failure swing: RSI doesn't hit overbought/oversold, signaling possible trend reversal.
RSI Settings: 1. Period: Typically set at 14 days but can adjust to 7 or 21 days. 2. Overbought/Oversold: Levels can be changed to 75/25 or 80/20. RSI Limitations: 1. False signals: RSI may give misleading signals in trending markets. 2.Not standalone: Should be used with other indicators for better accuracy. Incorporating RSI helps gauge market sentiment and spot potential reversals.
As per market veteran with the Nifty PE ratio just above 23.6x, it's currently expensive but manageable. A rise above 25.5x would signal caution. A market correction could offer attractive entry points for long-term investors in fundamentally strong stocks.
In 23rd December MTTs, Electrosteel was given at Rs.113 hit Rs.236 during the week - a gain of 109%.
In 29th March MTTs, TBZ given at Rs.104 touched Rs.327 - a superb gain of 214%.
In 6th April MTTs, Jubialnt Pharmova given at Rs.644 touched to Rs.1228 - a gain of 91% during the week.
In 25th May MTTs, Panasonic Carbon given at Rs.517 touched Rs.687 during the week.
In 1st June MTTs, Anantraj given at Rs.385 touched Rs.659 - a gain of 71%, SNL Bearings given at Rs.365 touched Rs.514 during the week.
In 8th June MTTs, Morepen Lab given at Rs.48 touched Rs.100 - a gain of 108% during the week.
In 15th June MTTs, Anantraj given at Rs.424 touched Rs.659, E Pack Durable given at Rs.212 touched Rs.356 - a gain of 68%, Metro Global was given at Rs.143 touched Rs.207, IOL Chemicals & Pharmaceuticals given at Rs.409 touched Rs.534 & still looks good.
In 29TH June MTTs, TBZ given at Rs.121 touched Rs.327 - a gain of 170%, VLS Finance given at Rs.293 touched Rs.431 during the week.
In 6th July MTTs, Morepen Lab given at Rs.59 touched Rs.100 during the week.
In 13th July MTTs, Deep Ind., given at Rs.318 touched Rs.47 - a gain of 50%, Kitex Garments given at Rs.216 touched Rs.516, a superb gain of 139%, Super Crop Safe given at Rs.12.60 touched Rs.19.44, a gain of 54%. Now it is better to book profit in Super Crop Safe.
In 27th July MTTs, IOLCP given at Rs.414 touched Rs.534 & still looks good.
In 3rd August MTTs, Himadri Speciality Chemical given at Rs.467 touched Rs.579 during the week.
In 10th August MTTs, TBZ given at Rs.163 touched Rs.327 during the week.
In 17th August MTTs, Anantraj given at Rs.586 touched Rs.659, Indo Amines given at Rs.161 touched Rs.248 - a gain of 54%, PG Foils given at Rs.200 touched Rs.234.
In 24th August MTTs, Anantraj given at Rs.586 touched Rs.659, Himadri Speciality given at Rs.527 touched Rs.579.
In 31st August MTTs, Available Finance given at Rs.262 touched Rs.368, a gain of 40%, Continental Petroleums given at Rs.89 touched Rs.108, Laxmi Organic given at Rs.298 touched Rs.325, Multibase India given at Rs.270 touched Rs.315, Vinyofles given at Rs.91 touched Rs.129, a gain of 42% during the week.
Last week in MTTs 7th September Cochin Minerals given at Rs.315 touched Rs.361, IOLCP given at Rs.465 touched Rs.534 & still looks good, NLC IndIa Given at Rs.269 touched Rs.276, PG Foils given at Rs.218 touched Rs.234, Shilp Gravures given at Rs.167 touched Rs.194 during the week in highly volatile sentiment.

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