Market MATH and Watchlist

28-April-2024

Sakatas Homma

Apr 28, 2024

∙ Paid

Market Momentum Anticipation and Trend by Homma:

Trend:

We continue to trend Up.

Momentum:

The momentum has constantly been increasing for the last 5-6 days and is at an oversold level. I would not be surprised to see a stall or decrease in momentum hence (EVERYTHING is CYCLICAL). Dont be surprised if you see a pullback.

Key Indices:

N500 and Microcap250 are at their previous highs of medium bases—50% of the time they find resistance in these areas (caution!).

Strong Groups:

The stronger remains strong. That is what happens most of the time during a bull market.

PSUs and PSU banks are strong and at levels that provide good Risk and reward.

Railways are back in momentum (2-3 days old).

Oil and gas is on the verge of a Big Base Breakout.

Metals remain strong.

Pharma and Health index are making lucrative big bases. Look out for big base breakout candidates soon from this space.

Watchlists:

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