This year, SPX is up 8.84% compared to Nifty50 up 4%. Nifty50 is plotted in USD currency so that the comparison makes more sense. If you also look at the price actions, both the charts are showing good correlation. It will be interesting to find out how Nifty50 will close the 4.84% gap. USDINR is up 0.59% year to date.
Our NSE:NIFTY & NSE:BANKNIFTY is following the same chart pattern as SP:SPX A falling wedge plus bearish descending channel with a strong horizontal support SPX has just broken out from the falling wedge, will it breakout? And if yes - some of that euphoria will spill onto Nifty50 as well.
A false breakdown has formed at the lower boundary of the H1 range. Accumulation-Impulse-Reverse Impulse-Accumulation. (Reversal design) Medium term deal. activation: 4427 (on the test of the second accumulation) stop: 4407 tp-1: 4446 tp-2: 4485
S&P 500 i am looking long here @ 4227 As per my Dynamic Cycles looking 4450 Target As per Cycle 4227 cycle finished further down only below 4156 Buy @4227 Keep Sl 4156