As for the USDINR, which has a inverse correlation with the markets, it is showing signs of strenghtening. It touched a high of 47/- today and close at 46.90.
Some technical indicators are suggesting a change in trend while a couple of advanced indicators suggest that it would gain momentum in the coming days ...
And if that happens, the Nifty down break of 4990 may be imminent.
Incidentally, I presume the CNXIT index too which was strong , is showing some 'initial' signs of exhaution.... Next couple of days working should be able to throw more light. . .
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
No comments:
Post a Comment