Indian markets are completely ignoring what is happening with the other world indices.
US and Europe indices are making new highs for the year with EM's like Taiwan and Korea each day making newer highs.
Our index meanwhile is getting bearish with the research houses going underweight on India. What a sudden change in outlook.
Anyway the color is getting bearish for India.
Nifty is giving whipsaws with no clear direction to trade as every trade is losing one now.
The color as of today is Lev sell on daily which is not changing for last 10 days. The range is getting smaller day by day. Need to watch the 5700 levels now.
Bank Nifty is now in neutral zone with sell mode below 10850 levels.
The only bullish thing as of now is the Index holding the 200 DMA. Thats the last hope for the bulls.
US and Europe indices are making new highs for the year with EM's like Taiwan and Korea each day making newer highs.
Our index meanwhile is getting bearish with the research houses going underweight on India. What a sudden change in outlook.
Anyway the color is getting bearish for India.
Nifty is giving whipsaws with no clear direction to trade as every trade is losing one now.
The color as of today is Lev sell on daily which is not changing for last 10 days. The range is getting smaller day by day. Need to watch the 5700 levels now.
Bank Nifty is now in neutral zone with sell mode below 10850 levels.
The only bullish thing as of now is the Index holding the 200 DMA. Thats the last hope for the bulls.
In 2009, Indian markets were laggards to Asain peers. Post the 2 up circuit day in May 2009, the Indian market did went for a catch up to its global peers. Do you see this happening again ? The Domestic cues are beating the Indian markets. Can the global liquidity bring some cheer to the falling Indian market.
ReplyDeleteI wish similar bullish event to happen again for India.
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