Sunil_1972 view on market

[rajputz]

Dow +150, Nasdaq +25, Nikkei +103


Looks like a good start will be there for our market too...seems like rally is initiated....

 

[sunil_1972]

This market is still confusing.

 

[sunil_1972]

14 day RSI is below 30 for last 14 days. How long we can trade in this kind of oversold condition? A pull back is not far away.

 

[trader.trends]

14 day RSI is below 30 for last 14 days. How long we can trade in this kind of oversold condition? A pull back is not far away.

The market can stay irrational longer than you can stay solvent - John Keynes,

 

[sunil_1972]

Hangseng and Shanghai climbed over 200 DMA. I think a meaningful recovery very much on card

 

[rkkarnani]

With IIP numbers at 16.8 for December, a Gap up is certain on Monday!!! Unless something really drastic happens in the world market.

 

[sunil_1972]

Hangseng closed just below 200 DMA. Dow down 150 points but recovered a lot. IIP numbers are good. My Nifty target is 5020-5030 range. This is the major resistance on weekly chart. If Nifty can cross this range on weekly basis (I dont think so), we can ignore this correction started from 5200.

 

[sunil_1972]

Published 9 hours ago by Economictimes

China's 2nd CRR hike in four weeks
BEIJING: China ordered banks to set aside more deposits as reserves for the second time in a month to cool the fastest-growing economy after loan growth accelerated and property prices surged.

The reserve requirement will increase 50 basis points, or 0.5 percentage...

Global News

China increased CRR, cut liquidity to curb overheating.

China hiked reserve ratio after five quarters of ultra loose monetary policies since 4Q2008.
Morgan Stanley on China CRR Hike - The surprising hike of RRR is likely to affect market sentiment in the near-term; especially the policy-sensitive sectors such as banks, properties and materials. Defensive sectors are telecom, consumer, media, Internet and insurance.

 

[sunil_1972]

Sensex tanked 490 points when China hiked CRR last time. Chinese market closed for holiday and will re open 22nd only. What will happen to Asian indices next week?

 

[sunil_1972]

All major asian markets and US shut today. We are alone. I think good time to go for a cenema.