Highest volatility since 2020.

Global Markets

YTD Performance

HSI is ready to be on the top replacing Nikkei which looks like has topped out for now.

Nifty continue to lag and remains at the bottom amongst the global indices.

Market Caps

YTD Performance

Best to remain invested in cash in Micro, Small and Mid-caps. Avoid largecaps to avoid being whipsawed and lose money.

Market Breadth

New Highs / New Lows

After reaching an equilibrium last week, we now see Net new highs increasing steadily.

It may not be too early to say that bottom for now has been made on 13/5/24

Nifty

Daily chart

We are above the 50dma in a so called safe zone and also in the ascending channel. This is making things choppy and will remain so till we are back at new ATHs.

Considering we are facing highest volatility since 2020 (India Vix above 20), its best to either remain invested in cash, watch IPL or go on a vacation.

Immediate support : 22300

Immediate resistance : 22800

Nifty Indices

YTD Performance

Yep, its just PSE, PSU – public public public sector all the way till the election and beyond !

Besides elections, people in India are buzy buying cars (auto sector) and houses (realty sector). Guess the banking sector is going to rebound soon thanks to these 2 sectors.

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	68.73
Cement	Ambuja	62.17
Chemicals	Solarinds	51.39
Commodities	VEDL	62.31
Consumer Durables	Bluestar	69.04
Defence	Nibe	79.16
Energy	KPIGreen	57.83
Fertilizer	Dhanuka	58.68
Finance	REC	54.78
FMCG	Trent	56.67
Infra	Siemens	62.32
IT	OFSS	44.40
Media	DBCorp	49.25
Metals	Hindzinc	69.40
Oil & Gas	Aegischem	54.51
Pharma	Zyduslife	56.22
PSE	HAL	67.07
PSUBanks	IOB	49.93
PvtBanks	Icicibank	51.30
Railway	IRFC	75.80
Realty	Purva	65.90
Solar	Webelsolar	50.57

All Time High

Indices and Stocks

Indices :

• Auto
• Infra
• Metal
• PSE
• Realty

F&O stocks near their buy point :

• Bhartiartl
• Coromandel
• Exide
• Godrejprop
• Sail

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