The past couple of days financial market movement seems that suddenly "All is Well" with the markets ! And Indian markets have conveniently ignored the high Inflation and its impact on the economy... (I am going to discuss this in detail TODAY in my Advanced Fundamental Analysis workshop)
The Eurozone too seems to be bouncing back after the Euro was beaten up below 1.20. In fact last week when I watched some 'experts' discuss the possibility of Euro-Dollar parity (1:1) I was sure that the Euro will go the other way and that it is now actually ready to bounce !!
The Euro has given a buying signal and it seems that a break above 1.23 (curr price 1.2250) should give the necessary boost towards my target of 1.2550 and also beyond that.
Happy Trading !
CA Rajiv D Khatlawala
www.investogyan.com
2 comments:
Dear Sir,
Technical Analysis is really confusing me. When every analyst was sure of getting 4700 on charts, it pulled back to 5200.
Now am getting Rev H&S on nifty daily chart giving apprx. tgt 5450
But by Elliot wave, c wave (last corrective wave) is in formation.
So r v really out of the wood (rev H&S) or still open for a deep cut (Elliot Wave).
ur clarification will be helpful. Plz
Regards.
Piyush.
Piyush
Technical Analysis is much more objective in nature . Most of the times when we say technical analysis does not work, actually it is our understanding that is wrong .
Tell me how can you have a Reverse H&S near a market high ???
Also when you carry out traditional TA , don't try to mix it with Elliot Wave (neo TA) ...
As for Nifty analysis, will write on blog tomm in detail
Regards,
CA Rajiv D Khatlawala
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