80000, the New Overbought, Sense on "X"?
80 is Golden period, 80K cannot be different.
However, in term of Oscillators 80 is termed as overbought. Look for more, the long, short ratio of 3 by the FII usually a sell signal that crosses over 4 plus and still market don't correct.
Too much ownership of present or future? FOMO everywhere?
The beauty of the markets is opportunities always exit for long irrespective, only issue is the difficulty in identifying.
Bull markets short of money, bear markets short of ideas remains time tested one.
How far are we in far a reasonable pause in this assault to the top.
NIFTY continues to get rotational support, IT, Banking, Metal Pharma, Auto, Realty you name it.
While we try to draw the long term trendline from the top of 2015, that is near 10 years, we are closer to some zone of top. We have marked that with a RED Arrow, nothing is confirmed, it is still the zone.
Repeated truncated appearance of bear candles throws some caution, results season and budgets should set the tone either way.
US dollar takes breather, but more driven by the Political canvas, be it US or the Europe. Tomorrow Non-Farm Payrolls to assume some importance of service sector led growth.
Support 24230-24180-24130
Supply 24330-24380-24410
However, in term of Oscillators 80 is termed as overbought. Look for more, the long, short ratio of 3 by the FII usually a sell signal that crosses over 4 plus and still market don't correct.
Too much ownership of present or future? FOMO everywhere?
The beauty of the markets is opportunities always exit for long irrespective, only issue is the difficulty in identifying.
Bull markets short of money, bear markets short of ideas remains time tested one.
How far are we in far a reasonable pause in this assault to the top.
NIFTY continues to get rotational support, IT, Banking, Metal Pharma, Auto, Realty you name it.
While we try to draw the long term trendline from the top of 2015, that is near 10 years, we are closer to some zone of top. We have marked that with a RED Arrow, nothing is confirmed, it is still the zone.
Repeated truncated appearance of bear candles throws some caution, results season and budgets should set the tone either way.
US dollar takes breather, but more driven by the Political canvas, be it US or the Europe. Tomorrow Non-Farm Payrolls to assume some importance of service sector led growth.
Support 24230-24180-24130
Supply 24330-24380-24410
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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