Mother of All trading threads!- Stocks, Indices, Commodities and Currencies!
- Thread starter nimish_rulz
- Start date
but still 45 mins to get there. If it doesnt it doesnt. I am just saying what my system saysSorry guys for not replying earlier. The Fifa World Cup has been lot interesting than the markets. Nifty is showing strength and gave buy signal on Friday's close as it broke through the trendline and so did Dow. However, Dow still needs to breach 10,330 as that is a significant resistance for it and yesterdays fall might just make it a double top.
Greece news was already discounted in the market as Greek bonds being junk. I don't think that is why Dow fell as news came in closing minutes however, Dow had started to fall much earlier than that, 2 hours before closing. So it hit a genuine resistance which was also the resistance 2 Fridays back when the job numbers came out and it started to fall. For me this rise might have been closing of that gap as huge gap was left open as future market tanked as soon as numbers came out and dow opened gap down by around -200 points.
Nifty however, is looking very bullish, so is Germany. I am frustrated to the core because of this fast upmove in Nifty compared to other indices. However, I am still sitting on sidelines and not taking any trade Unless I get confirmation by the dow to breach that level of 10,330. I expected the dow to go upto 10,351 if 10,190 was taken out and on the lower side 10050. However, both targets missed by just 20 odd points.
Fundamentally I still believe dow will go up to 10,700 before the earnings come out in july technically this resistance needs to be taken out. 200 DMA is almost impossible to break through.
Nifty on the other hand, I am not so sure what is going on but I am sure that trend reversed as soon as it closed above 5,000. Last fridays close of breaching the trendline confirmed the trend.
If all the other indices come back to bullish mode, Nifty can go as high as 5800. As the other Asian or Any world markets are still 10-12% from their peak. Nifty and Germany are only 4% away from hitting the peak. However, in previous rally nifty didn't participate that much. The sheer outperformance of Nifty can be measured by FTSE 100 index which throughout the last year had a gap of 300-400 points above nifty now nifty has overtaken it.
Dollar has also started to fall. Today if dow doesnt fall, and it breaks 10,351 on the upside even for 5 mins it is end of bears.
Greece news was already discounted in the market as Greek bonds being junk. I don't think that is why Dow fell as news came in closing minutes however, Dow had started to fall much earlier than that, 2 hours before closing. So it hit a genuine resistance which was also the resistance 2 Fridays back when the job numbers came out and it started to fall. For me this rise might have been closing of that gap as huge gap was left open as future market tanked as soon as numbers came out and dow opened gap down by around -200 points.
Nifty however, is looking very bullish, so is Germany. I am frustrated to the core because of this fast upmove in Nifty compared to other indices. However, I am still sitting on sidelines and not taking any trade Unless I get confirmation by the dow to breach that level of 10,330. I expected the dow to go upto 10,351 if 10,190 was taken out and on the lower side 10050. However, both targets missed by just 20 odd points.
Fundamentally I still believe dow will go up to 10,700 before the earnings come out in july technically this resistance needs to be taken out. 200 DMA is almost impossible to break through.
Nifty on the other hand, I am not so sure what is going on but I am sure that trend reversed as soon as it closed above 5,000. Last fridays close of breaching the trendline confirmed the trend.
If all the other indices come back to bullish mode, Nifty can go as high as 5800. As the other Asian or Any world markets are still 10-12% from their peak. Nifty and Germany are only 4% away from hitting the peak. However, in previous rally nifty didn't participate that much. The sheer outperformance of Nifty can be measured by FTSE 100 index which throughout the last year had a gap of 300-400 points above nifty now nifty has overtaken it.
Dollar has also started to fall. Today if dow doesnt fall, and it breaks 10,351 on the upside even for 5 mins it is end of bears.
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