Market MATH & Watchlist

Jun 09, 2024

∙ Paid

MATH: Momentum Anticipation and Trend by Homma:

MATH last week: Click the link

As technical traders, We

“Anticipate, but confirm. Wish, but only react.”

Trend:

The short-term trend is UP.

Amidst high volatility

Momentum:

Short-term momentum is Up

N50:

At the channel resistance amidst high volatility.

N500:

At the channel resistance amidst high volatility.

Net4% Movers:

Showed hugely bullish action post the result day downfall.

But bullishness reduced each day.

I anticipate the volatility to continue.

So the market moving inside the channel cannot be ruled out.

If we have a bullish open on Monday, that could on the other hand signal a confirmed move up positionally.

I am open to both possibilities.

The volatility has rendered very few tight setups while most big Base ones have also been ruined.

Decrease in volatility and a sideways tight action would be best for swing traders to open fresh longs.

Key Indices:

Nifty pharma has broken out of a big base.

FMCG names have emerged strongly during and before this event week.

Lastly. Nifty IT (& mostly the large-cap IT names) has signaled a trend change to Uptrend.

Strongest (short term and medium term):

Despite the short-term volatility, the below groups are still strong:

New strength emerging in:

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