Indian share markets have turned bullish, and the benchmark BSE Sensex hit a new all-time high yesterday.
As a trader, keeping a check on sectorial momentum and grabbing the opportunities is the key to success.
With sectors' outperformance and underperformance changing frequently, betting on the right sector at right time, can go a long way in making money for traders.
The realty index gained reversal momentum in the first half of today's trade after consolidating for a couple of days.
The fall from 454 to 436 halted at the 200DEMA (Daily Exponential Moving Average) and the reversal from long-term EMA signals the bulls are grabbing an opportunity.
Technically, the bullish crossover of 50DEMA over 200DEMA is known as the 'golden cross' - the long-term bullish trend.
The index is trending above the golden cross and the retest offers the low risk - high reward bullish entry.
Traders should look at realty stocks till the index is trending above the 430 level.
At present, the index is trading 0.9% higher at 444 levels. From the index, Indiabulls Real Estate and Oberoi Realty are the top gainers.
If you're interested in being part of my charting journey as I share how to create wealth from the profitable trade setups, join my telegram channel - Fast Profits Daily. You'll get access to the best trading ideas in the stock market.
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Brijesh Bhatia Research Analyst and expert chartist, is the editor of Alpha Wave Profits. Fully committed to his craft, Brijesh has mastered the art of making money by trading using technical analysis. Brijesh has an MBA from ICFAI and 16 years of experience in India's financial markets. He began his career on Dalal Street as commodities dealer and it wasn't long before he developed his own unique trading system. Brijesh worked on his trading system until it could be expected to deliver 5 units of return for every unit of risk.
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