Terrible Sentiment in the Markets

It may not be wrong to say that the current market sentiments are as low if not more than what we all saw in 2008. For instance more than 150 stocks in NSE have hit their 52 week low today and no stock saw 52 week high today. There are more than 400 stocks which are trading very close to their 52 weeks low in NSE. (Gain more insights from http://www.traderscockpit.com/?pageView=technical-screening)
Will be interesting to see how Western Equity markets trade today on the basis of EU outcome today.

Rakesh JhunJhunwala to offload his stake in Aptech

There is a buzz around that Rakesh JhunJhunwala is planning to offload his stake in Aptech which he has been holding for more than six years. The price at which the deal is expected may be at some premium compared to its current market price. If the price and news is confirmed the stock may move up in near term... but the long term call is more interesting question. On the charts it is not looking good and has not gone anywhere in last few years, but has a very strong support around 80-85 levels. Its current market price is 94.2 .

Check Out Saved Screener feature at TradersCockpit

Saved Screener feature has been recently introduced on TradersCockpit, using which one will be able to save the frequently used stock screening rules for future reference. One direct benefit is that you will save your daily screening time as one have to just execute the saved screener rules in the future visit to the site.
But we believe the more significant benefit is if you use this with the WatchList feature.  User will get automatic trade alerts via email if any of the scrips in his/her watchlist matches with any of the saved screener rules. We feel this is a powerful feature and will be really helpful in alerting the user on entry/exit signals. Let us know your thoughts.

Big Blow to Banking Stocks

Savings Bank De-Regulation is a serious blow to the profitability of Banking Stocks as Banks may want to increase their market share (acquire more customers) by offering better savings interest rates.
Overall End Customer is bound to be benefited and it seems to be a good Diwali gift from RBI.
So will be interesting to see whether it will lead to marginal rate hike or some serious hike in tune of 1.5% to 2% . Present saving interest rate stands at 4%.

Creating Strategies in TradersCockpit

It is very Simple , No Scripting or Coding.... Do give it a try!!!

Step 1: Create your Indicator Basket (Choose from ready made indicators or you can create your custom indicators - Will cover Custom Indicators in detail  in next Post). You need to add all the indicators in your basket which you plan to use in your Strategy rules and conditions.

Step 2:  Create Conditions from Indicators. There are many ready made conditions also available for direct use. Simple condition can be : "Close Price > 50 Day EMA Price" etc.
Please note each condition outcome should be True/False.

Step 3: Create Bullish/Bearish Rules from the conditions created in Step 2.
or e.g Condition1 OR Condition2 etc...

Step 4: The last step is to inform the system what to do if the Bullish/Bearish Rule is met by any of the stocks.
a) Entry Criteria tells the system whether to trade at market price, limit price etc..

We also need to tell the System when to come out of the trade.
a) Exit Criteria can be a combination of Fixed Stop Loss and the Target Price or say a combination of First Target and a trailing Stop loss.

Do let us know your inputs. Check out the free demos on http://www.traderscockpit.com/?pageView=strategylabs

Infosys Q2 results

Infosys Q2 results looks good. Rupee guidance looks good at 143-145 for the year (Rupee depreciation playing out). Looks good for some upside from this levels. May be a good call to move out of some Defensive's,  FMCG's which are trading at more than 30-35 PE's to Big names in technology stocks which are cash rich and available at 15-17 PE. Need to closely watch out Global environment though.   

Bear Market Rally OR Start of New Uptrend ?

Million Dollar question - Typical Bear Market rally or New Uptrend has started.
Bear claims are that Nifty has a very strong resistance around 5150-5200 levels , and than it will be  back to 4700/4400 levels.
Good thing about this rally is that most of the people are skeptical about it , so i will not be surprised if we do not  see levels of 4700 immediately. If Nifty crosses the talked resistances with steam - being long may be better strategy.
Thought the global uncertainty will be a important factor to watch out for.
Educomp is looking good for more. Watching closely DLF - Can it close above its 200 day EMA ?

Time For Smart Money to Buy Indian equities ?

Indian Markets fell on global fears yesterday , biggest fall in more than 2 years. Interesting to note that Cash Delivery volumes was hardly 7% (13-14 K Cr) of the total turnover of ~2Lakh Cr, so there were not many guys standing up against selling of 1300 Cr of FII Cash market selling.
Short term picture does not look good and investor sentiment is very bearish. Dollar trade is also not helping the cause. But smart investors look for such opportunities to start investing for a longer term.

Technical Analysis for 15th July

Stocks matching Bullish Reversal Patterns

Symbol	Pattern Name
ICIL	Abandoned Baby Bullish
ICIL	Morning Doji Star Bullish
IOLN	Three White Soldiers Bullish
JMTAUTOLTD	Morning Star Bullish
KINETICMOT	Morning Star Bullish
MANJUSHREE	Morning Doji Star Bullish
SB&TINTL	Morning Star Bullish
SENTINEL	Three White Soldiers Bullish
SKSMICRO	Morning Doji Star Bullish
TIMBOR	Morning Doji Star Bullish
UNIENTER	Morning Star Bullish
VSTIND	Three White Soldiers Bullish

Stocks matching Bearish Reversal Patterns

Symbol	Pattern Name
LAKPRE	Three Black Crows Bearish

Stocks which saw Long Unwinding
HEROHONDA
IBREALEST
INDIACEM

Stocks which saw Short Covering
GESHIP
LUPIN
TCS