As titled
BankNifty has taken a near 20% hit since the beginning of this year due to bearish economic outlook as well as a massive burden of 7 lakh crore + NPA. The budget has been published and the government has pledged to recapitalize PSUs by a measly 25k crore for now. I believe that the banking sector is yet to see its real lows however for the time being a...
As RBI is facing tremendous pressure to bail out PS/Corporate banks I believe that we will slowly begin to see a short term correction in the bank sector. I expected BOB to either break out and test supply zone at 190 before potentially making another leg up. The second scenario is that the bearish sentiment forces BOB to test demand zone at 100-120 before it...
Hi All! As I did back in August with the september meeting, I have decided to create a possibility of different Scenarios for the EURUSD pair for the month of December. I have outlined 3 scenarios based on the price range seen and recheable so far this year, this would give you a good idea of where to buy, sell or hold positions if you are thinking about trading...
USDRUB was trending upwards in correlation with WTI Oil descend since beginning of July Currently Oil fell to its 2015 lows (slightly below them now) while USDRUB was holding 65 level with apparent Central Bank of Russia support. CBR is selling USD against RUB in attempts to stabilize the national currency. If the Oil trend down stops at this level, USDRUB is...
As of now technicals are confirming a potential ab=cd that could be formed in NBG over the next few days if the bottom support range of 1~1.23 held providing an excellent 3.88 risk reward. Some upcoming catalyst: -Greece reform plans (April 8~9) -NBG quarterly earnings. 4/2/2015? I think it is quite unlikely that Greece will be leaving Eurozone (yet). Even if...
Sometimes knowing the general direction of fundamentals will be more than enough in trading, the charts says everything of what the market intended. News are just meant for distribution of expensive stocks to the average joe. Had a pretty good trade from this :)
Stuck between two patterns, we should see it play out soon
My Elliott Count for the Greece ETF is looking ready for an upcoming bull run. I count us near the end of a wave ii, in an extended wave 3. As all us EW chartists know, this is an ideal spot for entering long, or buying call options. However, Here is a BEARISH scenario, where A=C and we are just starting the wave down.... This appears to be in sync with the...