Tech-Freaks.in Stock Market Technical Analysis

Technical Analysis of Stock Market Trend in India

NSE Nifty Next 50 (Nifty Junior) 

22 March 2021
Nifty Next Index is trading above 50 day and 200 day moving average.
Leaders: ACC, Adani Green, Ambuja Cements, Tata Consumer, Adani Transmission, Piramal Enterprises, GIC.
Laggards: PNB, United Spirits, Abbott India, Petronet LNG, Torrent Pharma, Alkem Laboratories.
Bullish Sectors: Cement, Consumption.
Bearish Sectors: Pharma, PSU.

NSE Nifty 50

12 February 2021
Nifty is trading above 50 day and 200 day moving average.
Market has moved above after the correction due to Covid-19.
Nifty has dropped from the record high of 12400 in Jan to 7500 in Mar 2020.
Nifty has made a new high of 15250 in Feb 2021.
Nifty is moving in the range of 14000 to 16000 for short-term.
Leading world markets are also performing well after recovery.

Leaders: Bajaj Finance, HDFC, ICICI Bank, Adani Ports, Bajaj Finserv, Grasim Industries.
Laggards: Coal India, Indian Oil Corporation, NTPC, ONGC, HUL.
Bullish Sectors: Finance, Bank.
Bearish Sectors: PSU, Energy.
Stocks with stable up move over longer period
• HDFC Bank, Infosys, TCS.

S&P BSE Sensex 30

22 January 2021
Sensex is moving above 50 day and 200 day moving average.
Sensex from a high of 21216 had moved below to a low of 7697 in 2008. 
Sensex moved up to 21108 in 2010 and corrected to 15135 in Dec 2011. 
Sensex hit a new peak of 30024 in Mar 2015 and corrected to touch a low of 22494 in Feb 2016.
Sensex made another high of 42273 in Jan 2020 and low of 25638 in Mar 2020.
Sensex made a new high of 50184 in Jan 2021 and is moving in a band of 52000 to 46000 for short term.

Market movement will depend on FII inflow and strength of rupee against the dollar.
Decrease in crude oil price will be a gain for India but stress is seen in the Gulf region.
The long-term trend of the market has turned up after the correction due to Covid-19.
There will be huge pressure on the economy to take care of the health infrastructure.

Leaders: Bajaj Auto, TCS, UltraTech Cement, Maruti Suzuki, Infosys, M&M. 
Laggards: NTPC, ONGC, IndusInd Bank, ITC, SBI Axis Bank.
Bullish Sectors: Auto, IT.
Bearish Sector: Bank, PSU.
Stocks with stable up move over longer period 
• HDFC Bank, HDFC, HUL.

Nifty Midcap 50

11 December 2020
Nifty Midcap 50 Index is trading above 50- and 200-day moving average. 
All the 50 Nifty Midcap stocks are trading above 200-dma. 
That means 100% of Nifty Midcap stocks are trading above 200-dma. 
There is interest in the Midcaps stocks recently.

Leaders: SAIL, Jubilant Foodworks, Godrej Properties, Bharat Forge, Apollo Tyres, Balkrishna Industries.
Laggards: M&MFIN, Union Bank, Indiabulls Housing, Canara Bank, RBL Bank, BHEL. 
Bullish Sectors: Metals, Auto ancillaries. 
Bearish Sectors: PSU Banks, Bank, Finance.

World leading markets

4 December 2020
Top world leading market index outperformers: BSE Sensex, Nifty 50, NASDAQ Composite, Kospi, Nikkei 225.
Top world leading market index underperformers: FTSE 100, Hang Seng, CAC 40.
Markets in USA and India hit all-time highs after the Covid-19 correction.
Other leading world markets are trading above 200-dma. 

• Triggers for the market • 

• FII inflow
• Liquidity in the system
• New tax code
• Inflation
• Corporate results
• RBI fiscal policy
• Outflow to primary  market
• Interest rate
• Crude oil price
• Union Budget

General election results
Markets liked the General election results in 2009 and Sensex jumped up by 2000 points. Markets also hit the upper circuit for the first time.
Markets liked the General election results of 2014 and Sensex jumped up by 1500 points. The markets have moved into a new bull orbit.

Monsoon
Good monsoon is important for agriculture.
Agriculture gives good support to the economy.
For 2014 monsoon is expected to be below normal.
Watch out for food inflation, general inflation and interest rate.

South west monsoon rainfall as % of long period average