Market Update #3

FII data of yesterday(06/09/2022)was highly bearish. Not sure what FII is upto :)

Both SGX NIFTY and NSADAQ showing bearish trend. A bearish US market will definitely affect companies dealing in import or export of goods and services. IT stocks could fall even more, not really a perfect time to buy them.

Looking at previous patterns, if market opens gap down today(07/09/2022), one can expect a bounce back today(07/09/2022). Market will hopefully go up after opening.

Be bearish if NIFTY crosses 17200.

Be Bullish if NIFTY crosses 17800.

Two stocks Madras Fertilizer and Paradeep have started showing good momentum. One can add these start and start accumulating them. Especially take positions in Madras Fertilizer if you are an aggressive investor.