Technical Analysis of Indian Equities by Nooresh

S&P 500 and VIX–Fear at 10-25 Year Highs–Time to Buy and be Contrarian

Its been some time since have made a youtube video on the market condition ( 1st video in 2008(

Major bottoms in S&P 500 made when CBOE Vix tops out at 40-45.

2-4 sessions a low is made or in next 2-6 weeks average.

A lot of support price points get taken out in those few sessions but on a monthly closing we are back above it.

Next 2-4 weeks is a good time to spread out your buying.

Check youtube video - https://youtu.be/9dRe-lgPhY8

 

Nifty 11000-11200

· Nifty channel supports at 11000-11200.

· Last major bottom at 10600.

· Expect a bottom on closing basis in this band of 11000-11200.

· A buy around 11200-10900 zone is a good strategy for the short term as well as with a view of 6-12 months.

Please read the disclaimer and do your own risk management. The bottoming out is scary and one has to spread out buying apart from being ready to see a quick 10-20% knock off also after buying stock specific but if the view is 6-12 months these are good times.

Large Cap IT Stocks look interesting for a risk-reward entry point .  ( Nifty IT close to the 15000-15500 lower support band)

Nifty IT

Time to look at smallcaps and midcaps too.

Article by Nooresh Merani

Nooresh has written 2726 articles.

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