[sharetrading] World Markets

 

US has shown as expected a reversal of sorts. Now how long that would last is anybody’s opinion. So I guess on 27^th, we would have a big reversal if 26^th is a positive day for other markets. Though a buy signal has not been generated, it is my opinion that markets have fallen very sharply there and is bound to test the major trend lines / MA’s in US. There is a possibility that markets could reverse. However a caution is to be exercised and a quick exit to be made in case of failure.

Indian markets have closed with small tendrils of hope. However there is another line of thought that market could test the larger triangle bottom at 4760 – 4800 in next 3-4 weeks. It all depends whether 5010 is violated on Wednesday. Anyway at 5130 I see serious resistance and market needs to breeze through that for a rally if any.

Basically the selling which began sometime near 7^thJan, has been going on for too long and a reversal is overdue…..

 

So be prepared. And look at scrip’s which have fallen the highest last few days…………. But of repute.

 

Abe

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