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Nifty Weekly chart analysis - Bulls need not worry about Corona As observed on the weekly chart of Nifty 50 bulls have nothing to worry as of now as the uptrend is intact. The previous swing low (10637+) is is intact and its still trading above 200 Wk SMA (which is currently at 10290) Nifty is currently at 61.8% retracement level from the March 2018 low to Jan 2020 high (all time high) Bulls who are going long now without worrying about Corona Virus will most likely get coronated later part of the year! As I said we are in good position as long as preious swing low and 200 Wk SMA are still intact. Cheers, tRex
NSE:NIFTYLong
by k314
4
Melt upMost overbought ever...at least till 1970's If that's not enough please humor me. What's funny is everyone in the mainstream is defending. Including Warren Buffett. www.cnbc.com And this is the response from Cliff Asness twitter.com You know where I stand. Make up your own mind. This is a global equity story. Not just the US. Indian benchmark indices touched all time highs today. Watching ETNOW and CNBC in India is funny. Their condescending opinions about markets are the daily dose of entertainment for me. Even more amusing is how the opinions turn on a dime day over day. With all due respect though. It's a tough job they have. I wouldn't fair better in all honesty. But investors should.
TVC:DJIShort
by Kaustubh
7
Are we heading towards a NASTY GLOBAL CRASH! #DJI # NIFTYI have been tracking the DOW JONES weekly chart from the last couple of months when it started showing consecutive green days regardless of global factors, earning reports, etc. So what intrigues me out of the weekly chart is the hastiness of the DOW towards the upper band of what appears to be a forming RISING WEDGE. DOWs rise recently has been crazy to say the least. Last month would make even the dumb money feel like a Buffett or a Jesse. Its been on a continuous rise, plain and simple, no matter what. Now according to the chart we can take the spot levels of anywhere between 23450-23650 to be the reversal zone for DOW and it might retrace all the way down towards the lower band of the RISING WEDGE and by that time if the relevant factors are weak then it might fall down and then we'll be looking for a new support level but that would be a big downfall(CRASH) and also the global markets will follow the pattern. And as far as our markets are concerned what I found interesting was that Nifty is also making the same pattern of RISING WEDGE on the weekly chart. Investors should keep an eye on these things and should be aware, whereas for the traders, you know how we do it! SNAPSHOT OF NIFTY RISING WEDGE on WEEKLY CHART
DJ:DJI
by FIROZMANIA
Global risk (equity) marketsAfter the fox paus of North Korea, and despite the best efforts of US admin to fuck things up, normalcy is restored. Normalcy by definition is abnormal though these days. So be on your tows. Over next few days, week or two, it's the most bullish of bull market all around! Medium to long term is unknown. But it's great time to make some money in short term. For one, there are a lots of shorts out there considering the headwinds out there. And two, equal measure are willing to buy on dips. So in any impromptu move up, shorts get burned and longs will tag along. I, for one, am definitely expecting a short and sharp burst up in US equities. And that should see a follow through in other markets. There is always a fear of Kim Jong Un doing something stupid. But what the world doesn't understand is Kim isn't stupid. Trump is. As long as General Kelly keeps doing a great job he's been doing so far, any Trump shorts will burn. And that's a great news for risk markets all around. Make hay while the Sum shines. The Sun won't shine forever though. I have a feeling when Trump sees Kelly getting some credits he will push on to satisfy his narcissism and dump the risk on trade. So that should still give us a couple of weeks. For Indian markets. the high beta and leaders like MARUTI, RELIANCE, HDFCBANK should translate well.
TVC:SPXLong
by Kaustubh
Winter is Coming & Bears are here to Stay ! Acrophobia - Fear of Heights and a fall from the highest level can be dreadful. That's what we are looking in BankNifty, though Nifty & Gold has fallen a bit, here we are still at 20k's at the top almost forming a Double top. Whether this Double top will fail or work - we are unsure about that. This post is insync with our recent post about Nifty & Gold, remember they also show bearish signs. This 5-wave will get truncated, thats why the double top signal is slowly forming on weekly chart ? If that happens we can see 6000 points move to the south, hugging & roaring with bears. This isn't exact trade setup, its our analysis based on the technical tools we have & how the global outlook is. Has anyone checked on US Bank Index, its up almost 20% in last 3 months, Yeah you read it right 3 months. When was the last time US bank index where at current levels - 2008 , before the recession time & big fall. With Trump victory all are suggesting its good for US Banks & Pharma, but when you have 20% rise without any correction isn't something real fishy ? I can explain why the rise & what's fishy but it will take more lengthier post, so lets keep it crisp. Trump is good for US corporates only & its nativism, not good for US or world economy. We can't comment on his nativism but his economic/tax policies aren't good. So, the US economy & Markets also waiting for the fall. In 2015, BankNifty fell down 7000 points & in 2016 we rose up 7000 points, A whooping 14000 points movement. With this double top, another 7k points down ? Crazy thought..but we will love that if history repeats itself. In DJIA also bearish harmonic pattern ( courtesy : Nirav ), So where-ever we look we see bearish signs - Nifty, BankNifty, Gold, US Bank Index & DJIA... We don't know whether these will go as planned or not,but All I can see - " Winter is Coming & Bears are here to Stay ! " If you find any other Bearish signs feel free to post it below in comments...charts also welcome, Lets Discuss...! " Winter is Coming & Bears are here to Stay ! " InsiderB
NSE:BANKNIFTYShort
by InsiderB
24