hi raavigeorgian, pls check out latest mark minervini tweet. he issued a sell signal for US markets and stepped aside. i am curious to see any correlations to indian markets..just fyi.. was excited to see this post on US markets and also your caution in the rallis thread. i earlier posted same comment in the nifty thread. its more relevant here.
raavigeorgian
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@monkmaxims, In the last year, Indian markets have mostly been in line with US Markets. Barring the last month when US markets were flying higher and we went into consolidation due to Covid threat. There's a saying, 'If US sneezes, India gets a cold.' Indian markets might not have much bad news (Covid has been already factored in.), but even the good factors aren't so encouraging as to push the markets up while global markets are declining. There's too much information out there to conclusively decide the direction of the markets. There's a lot that goes behind the scenes that we possibly cannot know. However, there's only one way to know what the biggest sharks are up to. So, for me everything comes down to charts (Charts never lie.). I'll be carefully watching the NIFTY behaviour around technical supports, and weekly down-trending channel. If it falls, I'd like to believe it as further correction than a full blown crash. That said, I'd rather be proved wrong and see the market trundling up than watching it come down.
monkmaxims
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@raavigeorgian, excellent commentary. eyes are peeled for what happens next !
raavigeorgian
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@monkmaxims, Man, we are all in the same boat. As someone wise said about markets, SL एक शाश्वत सत्य है। इस सत्य को हम जितना जल्दी स्वीकार कर लें, उतने ही हम सुखी, शांत और संयमित रहेंगे।