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07 Nov 2021 | Trendline Investor | Newsletter 23

Can Nifty head towards 18300 again?

Disclaimer: I am not a SEBI registered advisor and this newsletter is for educational purposes only

Hello <<First Name>>,

I hope you had a wonderful Diwali! 🎉
Welcome to the 23rd edition of the Weekly Trendline Investor Newsletter. In this edition you will find the Market outlook and my Top 4 stock picks for the week. Hope you enjoy!

Markets in consolidation mode:

  • Nifty opened the week on a positive note reversing strongly from a short term trendline support and continued to consolidate in this holiday-shortened week.

  • I believe this consolidation might continue for a few more days before we break out and head higher towards levels of 18300 again in the coming weeks.

  • 18300-350 can act as a short term resistance above which 18600 can be seen again.

  • Levels of 17450-17600 can act as a short term support in Nifty.

Market Breadth:

  • The market breadth continues to consolidate given the weak markets.

  • As I always say, there are pockets of strength in the market and if you are able to spot them then you can still continue to make money slowly and steadily even in a weak market.

You can find all the daily YouTube live sessions (every Monday to Friday at 11PM IST) along with the review of my ‘Trade with Trendline Investor’ portfolio (which is up 21%), on my YouTube channel. Do check it out.

Top 4 Stock Picks for the week

Stock Performance

For the 88 stocks recommended in the past editions, the below chart highlights the overall stock performance. A total of 28 trades have been closed.

  • Best performers 🏆:

    • Gokul Agro is up 55%

    • Kitex is up 42%

    • VIP Industries is up 39%

    • McDowell is up 39%

    Worst Performer ⚠️:

    • Fortis is down 15%

1. Caplin Point Laboratories Ltd 🧪

2. Orient Electric Ltd 💡

3. Garden Reach Shipbuilders & Engineers Ltd 🚢

4. T.V. Today Network Ltd 📺

Trend Following Series

Many of you have written to me in the last couple of weeks, asking me how beginners should approach the markets and how to start learning technical analysis.

One of the best places to start, is my blog which provides a structured approach to technical analysis with several examples. So if you have not read the basics of technical analysis yet you can find it here, in which I have covered some important yet basic principles of charting and more.

Until next week..

Your Trendline Investor!

For any queries, please contact me on twitter @dmdsplyinvestor using hashtag #Asktrendlineinvestor.

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