The 2.3% bump UP for the Nifty on Friday was quite smooth and brought a lot of cheer on the streets but the CRITICAL 5690 level still remains unconquered. Given the smart rise of the previous week, it may not seem formidable after all. Nevertheless, we will have to wait and see what the market […]
If you thought the key price action of last week’s trading activity in the Indian bourses was Reliance’s drop on Friday, that is not entirely true. The CNX IT index’s steady price erosion over the last week is actually more important. All through the corrective declines since the March 09 bottom, not once did this index drop […]
When earthquake/tsunami struck Japan on Friday, I’m sure you would have heard in the media how this was affecting the sentiments of the markets. Here are few things one must know : Let us take a look at the powerful Kobe Earthquake that struck Japan in 1995 and caused $102.5 billion damage: It is obvious from […]
Copper, which is often considered a proxy for the global growth, dropped through some important support levels. The intermediate term trendline from June lows, which was holding up this market, gave way along with expanding volumes. The move from June lows to the November highs is a clear 5 wave pattern and the 5th wave […]
The Dollar index has been on a steady decline since mid-February and is currently one of the least loved asset. While price has drifted lower, the momentum readings have not matched the price lows. If we went back to the 7th Feb blog post on the Dollar Index (from where there was a small bounce), […]