Markets fell for the fourth session in succession as buyers continued to stay away in the absence of any solid news flow to do otherwise. The tariff thingy for India is still delayed so it seems that some furious back channels are at work but Trump fires on regardless, making people nervous that no big positives may emerge. So, a slow slide is in progress.
Sliding towards the support zone near 25000-25100, the decline may see some halt but the slow fall is only succeeding in pulling the main call shorts down till 25100 levels now by yesterday. It now remains to be seen how well the Put OI concentration at 25000-24900 is able to withstand the pressure. Given that the fall is already four sessions old, it is quite likely that it may survive, as there is no big delivery based selling.

Flat start likely and holds out no clues. HCL Tech results yesterday were OK and might repair the damage to the IT sector. But charts were not well placed and therefore commentary today will have to really surprise the markets for the stock to go up. Revenues were up but margins were down and market these days doesn’t like that. Tata Tech did not help.

Insurance companies would be in focus today as three top names in line to declare their numbers. Chart of Hdfc Life is better placed than the others and can be looked at if numbers are good. It is poised to rise if good news but may not fall if numbers don’t appeal. But the chart that looks best placed within the pack is SBI Life, so look at that.
Market will also be watching data coming out of the US today as there is a slew of data that is set to come out of there. So, that could, again, lead to some hesitation during the day? Or, in other words, don’t expect anything big today, either up or down.

The situation of larger trends intact while smaller trends remain weak persists. So, one has to look at positions from that angle. Have you taken a position on some larger news or pattern, then don’t get spooked by some patterns on the daily or intra day charts. This way you will avoid making some basic errors in approach.
Two areas from Neotrader that prove to be very helpful are the WellSet stocks and the Powertrend stocks in the ADX page. Now, these are stocks where some situational data has been added to make stock selection more reliable. I invite readers to take advantage.