Nifty chart: a midweek technical update (Jan 30, 2019)

how to do bitcoin trading

FIIs were net buyers of equity on Mon. and Wed. (Jan 28 and 30) but net sellers on Tue. Their total net selling was worth only Rs 6.7 Million. DIIs were net buyers of equity on all three trading days. Their total net buying was worth Rs 6.7 Billion, as per provisional figures.

India’s economic activity showed signs of slowing down in Dec ’18, reflecting a pullback in new orders and belying hopes of a quick turnaround suggested by Nov ’18 data.

According to ICRA, as many as 898 corporate insolvency cases are awaiting resolution as of Dec ’18, up from 768 cases as on Sep ’18. Only 79 cases have yielded a resolution, while 302 cases have entered liquidation as of Dec ’18.

A false upward breakout from a ‘diamond’ pattern (refer last week’s technical update) on the daily bar chart pattern of Nifty has effectively ended the counter-trend rally from its Oct ’18 low. 

The index has resumed the next leg of its down move from its Aug ’18 top. That sounds rather ominous for bulls, and so it should be. 

The sharp index fall on Mon. Jan 28 not only breached the 200 day EMA, but also gave a breakout below the large ‘rising wedge’ pattern within which the index was trading during the previous 15 weeks.

The Bollinger Bands are widening, and the 20 day SMA (green dotted line) and 50 day EMA have started moving down towards the 200 day EMA. Today’s pullback from the lower Bollinger Band faced twin resistances from the 200 day EMA and the lower edge of the ‘wedge’.

Daily technical indicators are in bearish zones. MACD has dropped below its signal line and entered bearish zone. RSI has dropped below its 50% level. Slow stochastic has entered its oversold zone, and may have triggered today’s mild pullback attempt. 

Nifty’s TTM P/E has moved down to 25.84 – but remains much higher than its long-term average in overbought zone. The breadth indicator NSE TRIN (not shown) is rising in neutral zone – hinting at near-term consolidation or correction.

Economic slowdown in China and an aggressive US stance in their tariff war can lead to a domino effect in the global economy. A likely no-deal BrExit is another joker in the pack. The Indian stock market has not yet discounted the possibility of a coalition government after the general elections. (Why else would Nifty be trading at such a high valuation?)

A test of support from the Oct 26 ’18 low of 10004.50 is looking well within the realms of possibility. (Bears will have a field day if 10000 gets breached!)

news forex trading

forex no deposit bonus

Leave a Reply

Your Name (required)

Your Email (required)

Your Message

BonusMin. DepositMax. ReturnsRating
ayrex$10,000$20090%Rating Ayrex Options Review
$10,000$581%broker Rating Freestyle Review
Finmax$10,000$20090% FiNMAX Review
StockPair$20,000$585%broker Rating Falcon Finance Review
24optionUnlimited$25089%Top Binary Options Brokers Rating 24option Review

To invest with binary options you will work with an investment broker who is licensed to work in this field. Working with your broker, you will identify which asset you want to buy an option on, how much you want to invest and when the option will expire. Once the option is placed, you simply watch the trading activity on that asset to see if your prediction was accurate or not.

Binary options are one of the most popular trading choices for investors today, due in large part to their simplicity and the fact that you always know all the risks and payoffs ahead of time.

  • regulated: we promote only regulated brokers whose business models and marketing practices are checked by relevant government authorities.
  • special features: here we list all the important features that a broker offers. These are usually listed as perks offered trough various account types which bring different levels of service, depending on the minimum funds deposited
  • bonuses: almost every Top Binary Options Brokers offers these rewards that increase trading potential. Fair Binary Options also lists terms and conditions that come with the bonus money so traders always know how will these affect their trading efficiency.
  • the best binary trading platforms reviewed: we review the software that makes trading possible. There are several big providers, such as SpotOption, TechFinancials, Tradologic, MarketsPuls… Every software has some special characteristics, and not every software is suited for every trader
  • assets: Fair Binary Options review provides basic info on the amount of assets available for trading
  • customer support: we chat with the customer support to test how the broker has set up the help desk that should support traders. This is the best way to assess the service.
  • payments: we list all the payment options available by the Top Binary Options Brokers, list minimum deposit requirement
  • withdrawals: we warn traders if withdrawal requirements are too high, or if it takes a long time to get the money back.
    • Keras - self-learning NEURAL networks for
      Stock market forecasting
      Get it FREE

      *number of participants is limited

      Customer Testimonials

      Fellas what broker is legit in States ? binary options binary options broker USA?