Long or Short Opinion
- Thread starter rajputz
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FTSE has opened at 4930..previous close is 4914.
First thing is it will go back to 4914- thats a trick FTSE do. NF will also get little bit weak.
Another possible pattern is FTSE will show some reaction by going 0.2-0.3% lower then previous close of 4914 and then it can rise.
Rememeber FTSE has fallen 3% yesterday, so it has factored the dow negative reaction. So it is not going to fall. Either choppy or will rise from 4914.
First thing is it will go back to 4914- thats a trick FTSE do. NF will also get little bit weak.
Another possible pattern is FTSE will show some reaction by going 0.2-0.3% lower then previous close of 4914 and then it can rise.
Rememeber FTSE has fallen 3% yesterday, so it has factored the dow negative reaction. So it is not going to fall. Either choppy or will rise from 4914.
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FTSE about to give sell signal on my charts
For everyone who advices being long based on India's GDP please be aware that it is not the GDP that drives the stock market it is the corporate profit we are still major exporters with very low consumption in our economy and these western countries when cut spending our businesses will shrink too. No doubt India has outperformed recently but please see even europe was outperforming every other continent until April and see what happened now all the indices down around 20%.
The most astonishing part is that we had all the best news possible in last 1 month for the markets to make a new high yet it has not been able to make a new high do you think that is coincidence. I am only seeing the shares rise which were cheap and recent news could benefit them. Oil and gas sector forms a major part of Nifty with banks.
Look at the other stocks too they are way below their 200 DMA. More than 50% of the stocks are below their 200 DMA I don't think that is a bull market.
But anyways do you own research as everyone has different time frames. China which is suppose to be the growth engine and grows 125% of India has fallen 30% this year even in 2007 Chinese market was the first to fall rest followed.
Everyone is seeing a rise in FTSE right now but do they know why it is rising? The major cause for the rise today is BP which is up around 5%. Look at Germany look at the mining stocks in FTSE look at the banks they are all flat to down.
Good luck and happy trading.
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