Dr.C.K.Narayan

⚡️My Website - cknarayan.com ⚡️My AI Based Software - neotrader.in ⚡️All My Trading Courses - training.neotrader.in ⚡️I post Daily Market Updates here - cknarayan.com/insights/

IT lacks buying so far today (0611) Leaders aall had a better start and made it into the buy list based on our NeoTrader algo engine. But note that all those signals are now tracked as "Inactive" meaning the monetum seems to have run out as quickly. Be alert on longs.

Hdfc Bank results

Hackers in France went after Refrigeration systmes in malls. Why at all? Hacking into some govt system to steal state secrets I can understand-because you can monetise it. But refrigerated food?? What is wrong with such people?? Just destroy for destroy sake?? Sick guys.

Yesterday's rally was on the back of just some casual remarks from the FM re: Stt and Ltcg. Shows that the market is very much keen and able to stage rallies. So, looks like market is just waiting for some good news to move up. Hence one will have to wait for some such.

The first rate hike since February 2023 signals that the era of low inflation may now be behind us. Market sentiment as of now is quite fragile...see my morning tweet on Nifty status.........

Nifty at touch and go point Fib retracement cluster at 22760-800 plus Pitchfork -all for support here. Time count in present upmove shows today as a turn. Time count of upmove in previos trend shows 7th Oct for a turn. Will it make the effort to survive?

CRUNCH TIME FOR CRUDE Rising into a good cluster resistance bounded by retracements and extensions and angle lines, prices fell to a parallel channel support on a time goal date. Will this break or hold? News flow will determine?

7 successive weeks has been pretty much the long streak for declines, as per this table (From Business Std). Interesting that current loss is the smallest. But the frustration level is high!

NSE as a savior for BSE. First day volume 2.5cr shares (4600cr value). This was a sharp increment in cash segment volumes, 100% deliver additions......big change from only options satta driving volumes............

No halt to PBFintech 1083 is 62% retracement. After that 766(78.6 retr). Near 800 is some Gann supports. A slow drift into those areas seems likely. Rallies will be sold into.

Complete washout day for breadth. These are few of the ready watchlists from @NeoTrader_in . The rest wore a similar look. Breadth extremes many times call for bottoms and tops. So be alert for trend reversals soon.

I didnt expect that it would fall to test 1350 on the same day!! The view was for a 30% decline- but not in a day! But hardly anyone got to sel (morning saw some 20cr sellers) and hence all rallies here will see supply for many days. As stated earlier, next time count is far.

PBFINTECH : IRDA DELIVERS A KNOCKOUT PUNCH Market taken completely by surprise by IRDA. When this happens, response is always enlarged. Expect 1350 to get retested and time count stretches till first week November. Stock is in for a bad time.

People are lined up outside Apple stores for the new phone launch! Its prices are like donating a kidney or two!! I truly dont know what these guys are smoking..........

Passenger cars index A composite chart of 4 top car mfrs. Impulse up is over and corrective down also seems to be getting over. In 16 more trading days time for rise and fall should be equal. keep PV stocks on radar for bottoming signs.

Come rain, sunshine, people are continuing to put their faith in Small cap funds. @8000cr for second successive month even as the market struggles. From Oct25 to Mar 26 shed more than Nifty but after Apr 26, distinct out performance with Nifty is seen.

COFORGE In classic charting, a pattern resolves at the fourth touch. Coforge trends at make or break. News is strong negative. But big upside momentum leading into the top. Max owned IT stock.

Yesterday had posted this. Still in time window. But price broke 38%. Now 50% retr lies at 23450. Some other Fib retracements also present near there. One more chance for bulls not to suffer 'erectile dysfunction' as one comment stated 😀 Revised angle sup now at 23300 only tho.