Recently had written a few articles focusing on Nifty from different angles like technicals , p-e , Global Indices etc.
I have consolidated the same into an e-book.
A quick follow up on Nifty
Nifty Technical View
- For the last 12-13 months Nifty has been in a downward channel. The recent lows at 6825-6870 were very close to the channel. ( did break it by a small margin.)
- In the near term we have crossed a recent top at 7600 which is a first indication of an extreme short term trend change.
- Channel resistance at 7800-7850.
- Another couple of tops at 7950-7970.
- The above zones could be a good area to book partial profits to increase some cash.
- The next question is can we breakout above the channel ? Lets look at the breakout which happened in 2012.
- In 2012 we saw a further dash above the channel. Its tough to say whether it was a Bull Trap or Short Covering but did confirm a major bottom in place.
In that sense if shorting stops should be placed at 7970 the previous top and hence a risk-reward short entry can come in if we see Nifty rallying a little more. Will review the stance if we reach the zone of 7800-7850.
IIF Meet Video
I had recently given a small talk in the IIF google group meet in Delhi on 13th February 2016.
Nifty had hit a low of 6870 on Friday February 12th 2016 so it was some lucky timing to come up with the presentation title to be - Beg Borrow Steal and Invest.
Its a small talk of 35 mins and i got hold of the recording in this week so just sharing it. Most of the charts used in the presentation are from the blog.
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