1-5 April 2024 | Bazaar This Week

Bazaar Updates for 1-5 April 2024

Hey there 👋🏼

Slow and steady, Nifty50 touched its all-time high of 22,619 on Thursday. Marked by uncertain dojis throughout the week and a distinct red hammer (on Thursday), it looks like the index is consolidating, taking support at its short-term DMAs.

Let’s zoom in on what happened in the markets this week…

📈 Bazaar This Week (1-5 April 2024)

🚀 Stocks In Focus

> Anil Agarwal-led Vedanta Group to raise $300 mn through debt securities.
> Vodafone Idea board to consider ₹20,000 crore fundraising in 6th April meet.
> Lokesh Machines has got license for FIRE arms from the government of India. The stock has run up from 113 to 450 already.
> Hero Motocorp gets demand notice of ₹605 crores from the Income Tax Department.
> Prestige Group acquires a 21-acre plot in Whitefield, Bengaluru, for ₹605 crores.
> Royal Orchid Hotels enters a contract to build a 300-room five-star hotel at Terminal 2 of Mumbai Airport.

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Nicolas Darvas’ stock market story was pretty unusual. He fled his home country Hungary ahead of the Nazis, and eventually became a professional dancer in Europe, along with his sister. When he wasn’t performing, he studied the stock market.

In fact, his first stock purchase led to a profit of more than 200%. His techno-funda theory was unique, one that borrowed logic from both worlds, i.e. technical and fundamental analysis, and went on to make >$2 million from the markets.

Darvas Box Theory

His famous Darvas box strategy is simple. He selected stocks based on 2 factors:

  • The stock should be trading at its 52-week high

  • It should show high momentum and volume

Basically,
1) Create a watchlist of stocks trading at their 52-week high and above their 200-day EMA
2) Wait for it to enter a consolidation, which may look something like a box
3) An entry is triggered when the price breaks out of the consolidation zone with high volumes
For example 👇🏼

Darvas Box Theory

Read on to see an example trade where the strategy has successfully played out in an Indian stock!

Note that this strategy works best in bullish, trending markets, and is suitable for long positions.

Trade in Tata Investment Corporation

TATAINVEST, 1D

Look at how perfectly the Darvas box strategy has played out for the holding company - Tata Investment Corporation Ltd. It entered a defined consolidation zone after hitting its 52-week high in September 2023. Gradually adding during consolidation phases would have given an excellent return 🤩

p.s. it’s still trending!

Darvas box is just one strategy you can use for swing trading. You can learn several other actionable swing trading strategies in Mr. Himanshu Arora’s Momentum Swing Trading Course, only on Upsurge.club.

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