Weekly update:
As we near, the end of the year, I thought it was most prudent to post an overall update and this would be my last post for the year.
Nifty: The attached image shows that there is still room for Nifty on the upside. Although the index itself is not showing any signs of fatigue, index stocks have been showing topping out patterns off late. As per my initial analysis Nifty should have ideally topped out in the range 5950-5967, but I still give the index some room on the upside especially since we are nearing the end of the year and I expect nifty to top out(6180) on an euphoric mood just like its global peers. I personally expect Nifty to show some signs of out performance before it starts cracking. In any case gear up for a turbulent 2013 ahead!
Dow jones: This heavy weight index is reaching its climax sooner than later. Its recent move is perfectly channeled and is expected to top out near the upper channel in the range -13480-13650. Globally the picture is looking quite ugly and is only expected to get uglier moving into next year. Tech heavy weight Nasdaq is expected to crack quite heavily lead by Apple in the forth coming correction.
USD/INR- From the point of investment perspective, this pair will surely outperform most of the asset classes going into 2013. In the short term though, it is expected to correct to 53 odd levels before it attempts a V shaped recovery. Going forward, this currency pair will surely expose the true picture of the underlying state of our economy which is masked by our corrupt politicians.
Fasten your belts and get ready for an action packed 2013!
Wishing one and all a Merry Christmas and a very Happy and Prosperous New Year ahead!
PraDa
As we near, the end of the year, I thought it was most prudent to post an overall update and this would be my last post for the year.
Nifty: The attached image shows that there is still room for Nifty on the upside. Although the index itself is not showing any signs of fatigue, index stocks have been showing topping out patterns off late. As per my initial analysis Nifty should have ideally topped out in the range 5950-5967, but I still give the index some room on the upside especially since we are nearing the end of the year and I expect nifty to top out(6180) on an euphoric mood just like its global peers. I personally expect Nifty to show some signs of out performance before it starts cracking. In any case gear up for a turbulent 2013 ahead!
Dow jones: This heavy weight index is reaching its climax sooner than later. Its recent move is perfectly channeled and is expected to top out near the upper channel in the range -13480-13650. Globally the picture is looking quite ugly and is only expected to get uglier moving into next year. Tech heavy weight Nasdaq is expected to crack quite heavily lead by Apple in the forth coming correction.
USD/INR- From the point of investment perspective, this pair will surely outperform most of the asset classes going into 2013. In the short term though, it is expected to correct to 53 odd levels before it attempts a V shaped recovery. Going forward, this currency pair will surely expose the true picture of the underlying state of our economy which is masked by our corrupt politicians.
Fasten your belts and get ready for an action packed 2013!
Wishing one and all a Merry Christmas and a very Happy and Prosperous New Year ahead!
PraDa
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