History of Indian market is such that there has never been a fall which has not been recovered.
Nifty Jnr was the only benchmark index to close this short three day week in green with (+1.24%) returns. Rest of the indices gave up some of the gains from the the continuous up leg witnessed from 8th Mar 2022. For Nifty 50 – 18100 acts as the immediate resistance zone while the 200 DMA may be the immediate support level. FIIs seem to be back on their selling spree with 6 continuous sell offs while DII have managed to provide a bit of counter balance with some buying. This has been the trend for quite some time now. Amongst the sectors, ENERGY (+2.63%) & FMCG (+1.6%) showed some strength while others stayed relatively dull. ENERGY stocks seem to be on a fabulous run showing strong trends especially in the last month with (+12.76%) gains.
A SHORT COURSE to Help you Stay Calm in All Market Conditions Usually, quick – sharp corrections amidst a Bull Run creates ambiguity in the minds of lots of new investors. The most important questions we often get asked is whether markets will crash from here ? Should we exit ? and few other questions like these. We have made several videos to help you clarify many such questions and help you have the RIGHT MINDSET for a rewarding journey in investing.
We have put together a few of our previous Daily Bytes which we think might be relevant for times like these. Do have a look and send us your thoughts, questions or comments if any.
Mi NNF 10 – an up to 10 stocks rotational momentum strategy that picks up trends from the Nifty Jnr Index, made the most out of the strong trend in Nifty Jnr Index returning (+3.38%) this week while rest of WeekendInvesting Smallcases remained flat to negative. Mi NNF 10 has also raced to a superbly strong (+8.42%) in the very first couple of weeks of FY 23. This favorite strategy of ours can be an amazing core strategy for long term wealth creation. This strategy also clocked it’s first 6x multi-bagger in ADANITRANS & we covered this in our Daily Byte. Please do have a look. Overall, we look happy couple of weeks into FY 23. We will further need some positive cues to see another leg of up trend going forward. The performance is tabulated below.
Conclusion
Nifty Jnr was the only benchmark index to close this short three day week in green with (+1.24%) returns. Rest of the indices gave up some of the gains from the the continuous up leg witnessed from 8th Mar 2022. For Nifty 50 – 18100 acts as the immediate resistance zone while the 200 DMA may be the immediate support level. FIIs seem to be back on their selling spree with 6 continuous sell offs while DII have managed to provide a bit of counter balance with some buying. This has been the trend for quite some time now. Amongst the sectors, ENERGY (+2.63%) & FMCG (+1.6%) showed some strength while others stayed relatively dull. ENERGY stocks seem to be on a fabulous run showing strong trends especially in the last month with (+12.76%) gains.
