Events, Socio Economics, Moods and Mania are more powerful indicator than drill down economic analysis. While the later can satisfy your rational taste buds, the former keeps you grounded when the irrationality hits the ground. The G-20 meeting brings INDIA on headlines, while the bulls rise a toast on the occasion, nothing seems go wrong for us. While the Index making headlines, after completing very healthy correction to 19300 and then rise, this time it appears we are propelled to life above 20 K. Usually it is bull's vs bears, but this last three months it has clearly becomes bulls Vs bulls. No longer happy with 100% returns in three months kind of euphoria. Let that sink in. Kotak gives first warning, don't think markets would take cognisance of this yet. Focus remains on the bull side. What is magical about this is the structural bottom moved to 19300 and that is quite safe for anyone to approach the markets. No wonder, everyone is a bull, every group is active with bull views. There is clamour for tips. All the indicators are in healthy trend, so far, no signs of a U turn. The graph is half weekly and is in incomplete stage. We started with huge engulfing bull candle around the 19300 area, no wicks there. Then followed by large bull body with minor wicks. Now the current candle opens with a gap and completes tomorrow. The question that worries for those who are in sidelines is at level to enter, then whether to enter or not. For the SIP it is a static buy at all levels, no brain power is required for that. For the traders, it is a fight that they are used to it. 19930 is the near-term support while it holds, we aim toward 20180.
TA Primer ping me on +971507107155 +918106170817 details @sribhashyam65 twitter handle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TA Primer ping me on +971507107155 +918106170817 details @sribhashyam65 twitter handle
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.