The Chinese are getting increasingly worried about inflation and property prices. Well, just look around you - and you will realise that that is also the situation for INDIA! I am sure it is time our Politicians do not behave like the 'Ostrich which put its head in the ground' in the story. . . Wake up ! Mes amies!!
HangSeng Index has a high correlation with Indian Markets and hence I was searching for direction there. Nowadays if you want to track Indian markets, it is better to analyse Hangseng(!!).
Hangseng's Index shows a crucial support at 19500 - today's closing (11-May) is 20089. A Break below 19500 should surely lead to further selling in Asian markets ; where China is now a 'regular' in feeding negative news.
A break of 19500 on Hangseng should roughly correspond to Nifty breaking 5000. The overall structure is still on down side and hence better to play safe .
Happy Trading !
CA Rajiv D Khatlawala
www.investogyan.com
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