Here is a chart of Indian Nifty in Dollar adjusted value.
Nifty daily chart - Dollar adjusted value
As is obvious from the above chart, Nifty has not even crossed the June highs, leave alone the April highs. And this could be the completion of a right shoulder in a head and shoulder top. While Nifty could very well continue to push higher and cross the highs of April in dollar terms- but other technical evidences at the moment do not favour that scenario. I guess by the time I post my next update from Singapore, markets should have more evidence of which way they are headed.
Good trading to all!
