Welcome to the Stock World !

As has been the case nearly all week, every time the bulls try to get something going they almost as quickly run into a headwind. The more recent catalyst taking an added toll on stocks and pushing the indices to lower lows on the day is the same catalyst that pushed the markets to their lows in March , weakness in global markets.But will it continue? That's the big question. YES in the short term and no in the medium term.
This market is not for the faint hearted anymore and be sure that the bounce back will be more vigorous than the fall.The trick is in the timing. Will be back with more insight early in the morning.

Well , so the correction day came only a day after I wrote about it.Anyways no stock picks today as anything and everything will happen.But one word of advice for sure , trade with conviction.Buy stocks at dips as fundamentally the growth story is still intact. Its only the weak hands that are getting away from the markets.Will be back by mid trading time to give better breakout advice.

It was yet another sluggish session for the markets with the Sensex and Nifty ending marginally in the green. The Asian markets were in the green too Shanghai saw some wild swings but ended in the green. The US markets are trading in the red midway through the day.Correction is bound to happen in the coming few days.
Reasons:
1. Indian Crude basket rising to 67 dollars plus on Monday.
2.Inflation and Rate hike concerns.
3.Global markets on highs , profit booking looks imminent.
4. Correction overdue after a sustained runup from 3700 levels.

Stocks to trade:

1. Buy Hindalco futures.
Range : 146.5-147.5
Stop Loss : 144
Target : 158

2. Sell BombayDyeing
Range :600-610
Stop Loss : 620
Target : 575

These are strictly for day trading as the markets are too volatile and hence one should adhere to stop -losses.

The markets will continue to be volatile in the coming few sessions.