Dear Investor,
Last week I mentioned that Apollo Tyre is looing good and it did very well. I usually do not mention a stock when I see daily gain or loss. My focus is always medium term. That means you will not make money next day but you will catch the trend. I work towards finding the trend.
NIFTY has really no trend right now. Look at the following chart and you will know for yourself. The trends are always there. Either it will be uptrend, downtrend or sideways trend. I believe we are in sideways trend for now.
We are making higher lows and lower highs, usually such action resolves on upside. What it means is that market will soon make an attempt to breakout on upperside. The volume of up days is very good whereas it is low on lower closing days. Recent geopolitical events have kept the market subdue.
Escorts charts has strated to trend up. Its overall move will be limited to general market direction. But it is ready for some upside moves.
KPIT is attracting buyers. Wait for pullback before initiating position.
Shree Cement is ripe again. Lets see if it breaks above 1775.
Anil
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