NooreshTech Weekly Insights – 17th March 2022 | Technical Analysis of Indian Equities by Nooresh

Last Post : https://nooreshtech.co.in/2022/03/new-series-nooreshtech-weekly-insights.html

NooreshTech Weekly Insights - 17th March 2022

1) Insider Trading Alert

Amarjothi Spinning Mills Limited

Promoter bought 0.47% since Sep'20 to Dec'21. Bought more 80.9k shares since Dec'21 i.e. ~1.18%

Anil Kumar Goel held 3.56% until Dec'20 and added 3.2% more. Total holding 6.76%

Chart

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Smallcase performance vs Benchmark

2) Crude Backwardation

What is backwardation ?

Backwardation is when the current price, or spot price, of an underlying asset is higher than prices trading in the futures market.

Crude Backwardation

When oil futures trade at lower levels than spot prices and near-term futures, that’s known as backwardation.Brent crude, the international benchmark oil price, was trading at its most severe backwardation since futures prices have been tracked.

Backwardation on 10th March 2022

Backwardation as of 17th March 2022

Source Link : https://twitter.com/dspmf/status/1499722332448821250/photo/1

Written about backwardation multiple times

https://twitter.com/nooreshtech/status/1499625211905605635?s=20&t=DLVNf6axd1kkKNXsDKAGpQ

https://twitter.com/nooreshtech/status/1499625132339638272?s=20&t=DLVNf6axd1kkKNXsDKAGpQ

We see such mismatches when there are events like war, sanctions or other geopolitical crises. Generally this becomes a pivot point for markets where a long term top is in place for crude.