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PRODUCTS |
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Diary
Fri,
July 03:
1430
CNBC
Fri,
July 03:
0930
CNBC Awaaz
Wed, July 01:
1500
CNBC Awaaz
Mon, June 29: 1330
CNBC
Fri,
June 26:
0940
CNBC Awaaz
Wed, June 24:
1500
CNBC Awaaz
Fri,
June 19:
1100
CNBC
Fri,
June 19:
0940
CNBC Awaaz
Wed, June 17:
1500
CNBC Awaaz
Fri,
June 12:
0910
CNBC Awaaz
Wed, June 10:
1500
CNBC Awaaz
Tue, June 09:
1430
CNBC Awaaz
Tue, June 09: 1100
CNBC
Mon, June 08: 1330
CNBC
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THE
MARKET |
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Friday's
Outlook
July
03 (09:40) -European markets fell sharply last night, and the US
indices also took a hammering. Asian markets are also down this
morning, but have moved up from their session lows. The global
short-term trend is down. We are therefore likely to see stocks fall
today.
[More] |
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Stock of
the day
July
03
(09:40)
-Power Fin Corp closed at a
four-week high, and could be in for more gains unless there is a
large market decline. It is a buy recommendation with a stop loss
below 205. It would be best bought below 208.
The recommendations made here are always one of many (picked at
random) that we make every morning in the
Trendwatch Daily Hotline. |
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Longer-term: Intermediate
uptrend still on
July
03
(09:40)
-The market is in an intermediate uptrend which started on June 23
at the sensitive index’s intra-day low of 14,017. The intermediate
uptrend would end if the sensitive index were to fall below 14,017,
the nifty below 4,143 and the CNX Midcap under 5,168.
The intermediate downtrend that preceded the current uptrend saw the
sensitive index retrace just 20% of the previous uptrend’s
7,553-point gain. This may be considered to be a “healthy”
correction, as most bull market retracements tend to fall between
33% and 50%. The implication is that the long-term demand for stocks
continues to be strong at this point of time.
A majority of global markets are still in intermediate downtrends.
The Hang Seng and the sensitive index are among the few which have
already ended their downtrends. Shanghai did not enter a downtrend
at all.
The market’s long-term trend is up, and this is also the case with
about half the global indices.
There was no change in the major trend of any of the Hotline stocks
on yesterday. Over 90% of the Hotline stocks are in long-term
uptrends.
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