i had argued that neely's structure is not correct which essentially was implying strength and no new lows at that time.now at 990-1010 levels are extremely strong levels of support, so a good bounce is due.
indian market is diffident for the simple reason that a major world index has had a standing gap for over a year, and this gap is no mean gap,a huge huge gap.
the breakaway gap.so indian markets are extremely reluctant to go down.
this gap will be narrowed some time in the near future but may just not get filled.
i am very sure that i will put a large chunk of my capital money in long term mutual fund once it gets there and keep making systematic continuous investments in the indian markets.
Thanks for the view Vipul. I agree with you that India is a buy closer to the May 09 gap.. But currently will it make a new high or continue to stay up while most others "seem" to have made a top?
ReplyDeleteLooking at Copper, Crude,China, Rupee etc.. I get a feel that Indian equity may also have made the major B top or very close to it.. . I am short here on the index and started selling my mid caps. Intend to hold the same unless the index gets and stays above the symmetrical.