DOW JONES sold off badly as expected

DOW JONES sold off badly as expected

In our past market updates, we have been warning about the imminent upcoming sell off in USA Dow Jones index, the resistance of India and other EMs to bow down and follow it on the down side as well as how they will not be able to cop with a heavy sell off in the same. While the Dow Jones decline was given, and the Indian markets touched their upper end of the range that it has been trading for some time; those in knowledge of the pattern made good money on both up and down side.

As of writing this Indian stock markets are yet to open and on Friday DOW JONES shed another 500 points, Asian markets are about mixed, and SGX NIFTY also not a lot indicative with flattish or non-indicative bias. We maintain sell on rise and buy on dips with stock specific movement.   

Read recent articles for more insight as the structure of markets and present trading strategy remain same more or less.

We do not believe that the cut in GST rates will have a great deal of impact in view of the monthly movement of markets.

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Market Review As On 12.00 PM, 21 December, 2018, NIFTY-50, SENSEX-30

Market Review As On 12.00 PM, 21 December, 2018, NIFTY-50, SENSEX-30

Ultimately, the Indian stock markets bowed down to the mighty US DOW JONES INDEX; at least what it looks like right now.

We have been talking about how the resistance showed by Indian stock markets along with its Asian counterparts, against US Equity markets decline, with low volumes and unsustainable news flow, should not be taken for granted and must be traded with care and caution. Our yesterday’s blog titled ‘beginning of reversal from short term uptrend…’ also cautioned about the same and explored the possibilities of further up moves in Ems without the support of the DMs esp.USA, and found that it is very difficult.

Its not always a bull market when the markets go up few hundred or few percentage points for few days or weeks and so is true on the other side as well. We have to take into consideration the variety of factors.

We have been maintaining more of a sideways and range bound type market along with most of prominent analysts out there, and not arguing about a crash or continuous rally. Pls read previous articles to find tips on how to trade this type of market.

The NIFTY-50 opened gap down about 100 points, and then gave up 30 more points as of this writing. The markets which were very strong against the odds fell so much on open is an important technical sign, and it will remain to be seen how the indices ends. At the same time, pls keep in mind that we are still not advocating ‘sell all’ mode but trade with strategies and mindset that is fit for range-bound, sideways type low volume market.

We talked about 200 odd points correction, so the NIFTY-50 move towards 10700-750 which is also its lower end of the range of daily chart and 200DMA on its important hourly chart, should be traded.

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This is only a brief analysis and not a complete research report or recommendation. Become paid member to benefit from market and individual stock moves. Become member to get alerts for buy and sell with targets. Please read complete disclosure, disclaimers on our website.

For best services for traders and investors in Indian stock market for multibagger stock calls and intraday stock, nifty, stock futures, options trading calls visit our website www.meghacapital.in

NIFTY 50 INDEX – Gap up can happen 11100

NIFTY 50 INDEX – Gap up can happen 11100

The Indian stock markets have shown good resistance in respect with the defeat of the ruling BJP in three states ahead of the next year LS elections. The crude oil prices have softened, easing the burden on the central government fiscal front, the export – import balance of payment front and the economy as a whole which uses the petroleum produces at every step of commerce. The market has also been digesting all DOW JONES falls along with its Asian counterparts. There is also lack of bad macroeconomic data, result season is not going on and many macro data is coming positive. With new RBI governor appointed from goodbook of PMO has also removed the newsflow of RBI and Govt. tensions.

The market can again get into sell off move if global markets start to sell of on the back of huge panic selling and sell off in USA DOW JONES markets. However, the Indian LS Elections is not a trigger right now as it is still far away many months before that we will see a budget from the incumbent government.

The nifty 50 index can open gap up in absence of any unforeseen bad news to around 11100 which is currently at 10950 levels. If this happens then we may see further immediate upside or possible consolidation, in both cases we are bound to see the continuation of the midcap rally and individual stock specific decent upmove in frontline stocks as well. Remember, this rally is not supported by good volumes so take profits and keep mentality of getting in and out. At the same time it must be kept in mind that 10950-11000 is the short-mid term resistance level and if today it closes around the present level and makes a DOJI candlestick formation and opens gap down or goes down significanly after opening flat or up then it will make a bearish pattern right at the resistance level, then we will again fall into a sideways trade decline and possibly a follo up sell of may be on the back of the global markets fall.

For best services for traders and investors in Indian stock market for multibagger stock calls and intraday stock, nifty, stock futures, options trading calls visit our website www.meghacapital.in

To know how to trade or/and invest with enty, exit levels, alerts and time duration etc. become member.

This is only a brief analysis and not a complete research report or recommendation. Become paid member to benefit from market and individual stock moves. Become member to get alerts for buy and sell with targets. Please read complete disclosure, disclaimers on our website.

NIFTY FU THIS WAY WE MINT MONEY

pre market  send message to sell NIFTY @ 5065 crashed to 5017

book profit @5027

this month total profit 188 point

POWER OF CHART