Six Reds in a Row 🔴
Caution remains the theme as markets hit rare oversold streak.
⦿ Market Recap
◦ The week was dominated by selling pressure. Despite a strong recovery on Thursday, the market closed weak, breaking below 24,500 and testing sentiment.
◦ That’s 6 consecutive red candles on the weekly chart; last seen in August 2013.
◦ After breaking the 24,500 level, the market now needs to prove whether this was a genuine breakdown or just a shakeout.
◦ The next key support sits near 23,800, a level that was significant in the past.
◦ Market breadth is in the oversold zone, but caution: oversold can stay oversold longer than we expect. This is not the time for bottom fishing. We will react, not predict.
⦿ Outlook for upcoming days
• Stay light on positions until the market confirms direction.
• Keep watchlists ready; when momentum returns, strong setups move fast.
• Avoid “catching the falling knife”; instead, be ready to ride the wave when it turns.
⦿ Focus List for the Week Ahead
• Companies posting earnings surprises.
• Stocks still within 25% of their 52-week high.
• IPO names.
• Watch for relative strength; stocks that stood tall during weakness and those that rebound fast.
⦿ Commodities Highlight
Gold posted its highest weekly close ever at ₹1,01,798.
⦿ From the Stocky Mind Community
“We don’t trade to be right. We trade to protect capital and grow it when the market allows.”
This week, members shared sharp observations on risk management; a reminder that capital preservation is the first step to compounding. Great to see!
📢 Note: Keep your eyes on relative strength and earnings winners; these usually become leaders in the next uptrend.
⦿ Quote of the Week
“When the tide is out, watch the shore; not the waves.”
See you in the next pulse with Stocky Mind Pulse - 18 🙌🏻
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⚠️ Disclaimer
The information shared in this newsletter is for educational and informational purposes only.
It is not financial advice or a recommendation to buy or sell.
Please do your own research or consult a certified financial advisor before making any trading or investment decisions.
Great article Omkar. 👍