The Indian Market has seen some an insane frenzy of bullishness in recent weeks. Favourable PMI numbers and overjoy about expanding economies have led the gamblers to go north like nobody's business in the last few days.
Errh.. they forgot about supply chain bottlenecks. 🙄
The interesting thing about this position is what it 'makes'' you think - or is that...
Do take note that I believe the market has been ranging for the IN50.
But as my indicators show it is a long opportunity.
Based on this information, managing the trade is a priority as it would be for any other trade.
If you look back, in July I took a small loss. I should be in this trade a couple of minutes before market close, as time differences will close...
This looks like a channel, so I say it is a channel. The interesting thing about channels is that you will almost never get all price points on the lines. Price can break up and out then return in, or break down and out and come back in, or break totally out and stay out.
But it's an opportunity for those who plan carefully.
Stay safe. Don't get the Indian...
If you thought the DJI was overvalued, have a look at the India50. This thing has outperformed loads of other stock indices, even rivalling the Brazilian Bovespa. They've certainly passed the moon. Could the next stop be Mars?
Well I think a significant correction is well overdue. Of course, I don't know when that might happen. The show could start with a 5 to 15...
This is the INDIA50. Lots of people are not interested in this but interest is growing. I show how I assess probability for the south for a short entry.
Disclaimer : As usual this is not a recommendation to trade securities or derivatives. If you lose your money kindly sue yourself.
