Fundamentals drive the markets, and technicals time the markets.

Global Markets

YTD Performance

Divergence in US between US100 and US30 which is a sign of pause and maybe some correction too. Fed doesn’t seem to be chiming well with the markets.

NVDA split 1:10 and continues to march upwards non-stop breaking all expectations. Still continues in the extended-zone!

Market Breadth

New Highs / New Lows

New Highs are now back up and everything looks to have stabilised with beginning of June as it has been last 3 years.

Looks like we’re going to see a good Divali for the markets if this “June-to-Divali” trend repeats.

Nifty

Daily chart

We need to get above the high of 3/6/24 wrt Index for the market to look roaring bullish.

What’s not in favor :

• High of 3/6 not crossed
• Currently in Gap resistance
• Volume drop while Price is increasing
• RSI 60 resistance

So the correction may be over but the market needs a reason to go up now. Small candles all of last week are not helping to even think of going aggressive yet.

Nifty Indices

YTD Performance

Nothing much has changed in the leaders since last week. Focus on Auto and Realty. Don’t look beyond.

Stay away from underperforming sectors, Legendary traders follow this one important strategy of always staying in Alpha sectors and Alpha stocks.

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
Adani Group	Adanipower
Auto	M&M
Birla Group	Abfrl
Cement	Ambuja
Chemicals	Solarinds
Commodities	Vedl
Consumer Durables	Bluestar
Defence	Cochinship
Electric Equipment	Tril
Energy	KPIGreen
EV and Adv Auto	JWL
Fertilizer	Dhanuka
Finance	Shriramfin
Fmcg	Trent
Hotels	Eihotel
Infra	Siemens
IT	OFSS
Logistics	Aegislog
Mahindra Group	M&M
Media	DBCorp
Metals	Hindzinc
Oil & Gas	Oil
Pharma	Sanofi
PSE	Hal
PSUBanks	Iob
PvtBanks	Federalbnk
Railway	Rvnl
Realty	Purva
Roads	USK
Solar	Webelsolar
Tata Group	Trf
Telecom	Industower
Textile	Centurytex

All Time High

Indices and Stocks

Indices :

• Auto
• Realty
• Pharma

F&O Stocks : near buy point :

• ABCapital
• Ambujacem
• Godrejprop
• Petronet
• Tatasteel

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