I shorted Nifty 50 owing to I shorted Nifty 50 owing to
weak global cues that overall
markets closed in red and
plunged hoping nifty may touch 17980
Globaleconomy
Stocks too hot before summer - trend line broken, lower supportsOn a weekly chart, for context, you will see how much Nifty has risen since 2018. Here with changing interest rate and economic recovery conditions around the globe, Nifty wants to cool off. Nifty just broke support trend (white line), and I have marked three lower support levels (dashed lines).
Also RSI is below 50 again. If it gets below 33.33 that is a strong bearish signal.
I recently included Nifty in a comparison of market performance, and Nifty was highest, while only China had turned lower. China might be leading here, which means India and US markets should be going lower (see linked chart).
Real global unification Developed countries and under developed countries should form a stock exchange . All corporates should be under one roof . A global currency should be followed later . Stock Markets it knowledge of trading should be taught from school level . All the Expenses on defence should be diverted in development for mankind . Global stock exchange can very easily catalyse the Unification of the globe . Thoughts of Benjamin Graham should be inculcated in every global citizen . A true global citizen will gain get rewarded by the skill of others global citizens
Nifty 50 breakout but way behind global markets retracementsNifty has shown a clear cut breakout on charts. comparing it with Dow, Dow jones Fib Retracement is around 0.618 fromt the March lows. now you may be saying why are you publishing dow index when our main index is Nifty50. just to show that the dow is coming out of bear market and we are not have come out of bear market. we ( Nifty ) are at the retracement level of 0.38 to 0.40 which means we are way behind global markets. so what does it indicates. it indicates that we are going to align with global markets in june or july so what does it mean, either golbal markets has to come down to our levels or we have to rally upwards to align with them. so take your position accordingly.
