Sell in May and go away.

Global Markets

YTD Performance

Global Market Index RSI is now in short term momentum.

Just like its lonely at the top, its also lonely at the bottom. Nifty is at the bottom of global indices list and hopefully it may see the sun soon.

All eyes on HSI, its going all guns.

Market Caps

YTD Performance

Midcaps are leading followed by Micro and Smallcaps. Largecaps continue to lag with major profit booking last 2 weeks.

Market Breadth

New Highs / New Lows

Not tying to predict anything but we are reaching an equilibrium between New Highs and New Lows.

Are we reaching a bottom this month ?

Nifty

Daily chart

A break of the 50dma is in itself a dangerous sign that things are not too hunky-dory after all.

Am happy watching the show alongside IPL’24 and not participating in either.

It is now important that Nifty doesn’t remain below the 50dma for too long and form a bottom around here.

22300(50dma) now is a resistance which needs to be crossed with all the might (volume).

Nifty Indices

YTD Performance

Its Summer so even the sectors are trying to beat the heat and cooling off from their All Time Highs.

Sector rotation is on the cards and we can only wait to see which sectors start popping their heads up.

Alpha(α) Stocks

Leaders of every sector

Keeping a watch on where the leadership is in the sector helps to get the True Market Leader / Model Book Stock / Alpha Stock.

SECTOR NAME	LEADING STOCK	SECTOR RSI
Auto	Exide	67.70
Cement	Grasim	49.34
Chemicals	Solarinds	47.00
Commodities	VEDL	47.41
Consumer Durables	IFBInd	47.99
Defence	Nibe	53.23
Energy	KPIGreen	46.07
Fertilizer	Dhanuka	46.19
Finance	Sbin	42.69
FMCG	Trent	58.49
Infra	Industower	44.89
IT	OFSS	32.72
Media	HTMedia	33.85
Metals	Hindzinc	52.94
Oil & Gas	Aegischem	43.50
Pharma	Zyduslife	44.39
PSE	Bhel	52.47
PSUBanks	IOB	45.04
PvtBanks	Icicibank	40.63
Railway	IRFC	45.77
Realty	Purva	47.36
Solar	Webelsolar	53.54

All Time High

Indices and Stocks

Indices :

• Auto

F&O stocks near their buy point :

• Astral
• Heromotoco
• Escorts

Your Job is to find ONE stock and handle it well.