When Reliance announced the deal with BP there was quite a bit of excitement amongst the analyst community. Some even thought this was a game changer for the stock. But here is the stock dipping under the pre-deal announcement levels. If the stock closes Rs 10 under Friday’s close, the deal essentially would mean nothing […]
The relief rally for the Nifty that began from the lows of February 11th, ended today with a strong reversal bar. As can be seen from the chart below, today’s price action shows a rejection of the early highs and sellers have overpowered the buying pressure of the previous day too. This bearish outside day is […]
If you have been following my views on business channels, you would know that I have been saying for quite some time now that the decline in stock markets is not just restricted to one or two stock markets in the world. Many markets, frontier and emerging have been taking it in on their chin. […]
Raw Sugar had been on a tear and the run may have come an end. The chart below shows the commodity breaking out of a rising wedge. Wedges are ending patterns and have a fairly high degree of reliability. Also from May lows, I can count 5 waves to the February highs and Wave 5 […]
The trendline highlighted on the weekly charts has been a solid support for the Dollar Index despite consistent efforts by the Federal reserve to debase the currency. An ascent past 78.8-79 would increase the odds of this rally having more legs and clearing the 200 MA( currently placed at 81.61). The much awaited correction for […]