Mayhem in May | What about June? | CA Rachana Ranade

"i think in today's rally the clear-cut outperformer the clear-cut gainer was bank nifty as compared to nifty right"

"so i think in today's rally the clear-cut outperformer the clear-cut gainer was bank nifty as compared to nifty right now uh as as our theme for today suggests that mayhem in may then what is it in june"

"so if i were to talk about the june series for the last five or six years barring 2020 which was i think an extraordinary year everyone would agree with me because it was this big fall of 23 in one month and then we had straight recoveries of fourteen percent two percent barely seven and a half percent backed by again seven and a half percent so these were the straight cut rallies in in the month of uh june and july 2020 but barring 2020 it has been one percent either on the upward side or one percent on the lower side"

"so i feel that sixteen thousand four hundred is a very big hurdle that nifty needs to cross in the month of june if it is able to cross that then i see that it can it can create some wonders"

"once 16400 is crossed i think filling up this gap is not at all a big deal that can be crossed maybe in one gap also you never know okay like like we have we had a big gap down here right we had a big super big gap down similarly we can have a big gap up also and very closely if you have seen this this red line is what this red line is the 200-day moving average and this 200-day moving average is also coming to somewhere around 16700 so i believe that if 16400 is taken out if that's that's a big if question then in that case moving to 16 700 will be like ideally i believe should be very very easy"

"downside right now risk is comparatively less is what i feel 16 the point i said right one percent upward one percent downward if i say one percent downward again i believe sixteen 000 the psychological support i believe is going to be a very very very strong support we going below 16 000 right now unless and until there is a horrible news i don't see that coming worst case scenario even if you do if you see here i'm just drawing this line one touch point another touch point three four five almost six touch points this is the level of fifteen thousand seven fifty i think this this is a solid rock solid support"

"interpretation is really easy this is typically called as a reversal candidate i'm repeating this is called as a reversal candle and the reversal candle says that whatever trend we are in right now ideally ideally it should reverse"

"s p is up almost two percent nasdaq up two point two six percent dow jones up one point five percent"

"from march from may from 9th of may 2022 where it saw a high of 3.2 percent it has cooled off quite a bit and right now you can see it has cooled down to almost 2.7 percent this is still a big one okay bond yields going down by 0.5 percent is a big one you can see this big drop and that is why we can see a nice you know that's that's surely a good sign for our stock market"

"this is the indian government bond 10-year yield if you can see a high point seven point four nine percent and today's whatever trades at right now it's seven point two nine percent so from high point of seven point four nine to seven point two two nine still the yields have cooled off and again as i mentioned this is surely a positive sign"

"so as i was mentioning always remember the thumb rule thumb rule is that whenever bond yields are cooling off it is going to be a positive sign for our indian markets and uh ideally it should react pretty well"

"as of now i feel 16 400 which is the big barrier if broken you we are going to see a ride is what i feel"

"i t sector right now i believe has been beaten down quite a bit the only problem that i see further in iit sector is that it has broken the 38.2 percent fibonacci also point three to fibonacci is also broken there is one contra view now because now that it has fallen by almost 23 to 25 percent in two months two straight months it has it has gone down by almost 25 percent uh i believe that not much pain ideally should be left from here the next level next fibonacci level is at 25172 but uh you know i would want to wait a little bit more i would love to see some sign of reversal and then make uh you know at least kind of a bullish view on uh i.t sector it's right now i'm staying away uh i have not taken any fresh position in the i.t sector right now that's because i would want to do a little bit wait and watch now for a fresh entry right"

"everyone knows it's one of my favorite stocks uh i may be a bit bias towards that but yes not not only you please check out on google almost each and every uh foreign brokerage house as well has given uh a positive view about jubilant food works so yeah i mean i've been adding it uh for quite some time"

"grasim has planned a capex of ten thousand crore rupees and that can have some dent for asian paints right so that is the reason why um the the stock saw some sort of knee-jerk reaction"

"the immediate near-term target can be around 600 but i do see some resistance at 600 crossing 600 can be a challenge for this stock is what i believe"

"global education again 93 94 looks like a looks like a pretty big resistance"

"i can see a big hammer right now being formed on a daily candle today also i would want to wait for a little bit of more reversal it has corrected like anything uh so a better way could be wait and watch i don't feel makes sense to jump inside it right now okay"