- The screen is red and Bearish.
- Europe closed deep in red on Friday
- This is how US market closed on Friday.
- Rate hike speculation continues. Here's one analyst take: Once again, don't even bother thinking about a rate hike in Oct or Dec. Not enough data by Oct & they won't ruin the holidays in Dec.
- If higher US interest rates ahead reflect confidence in the economy, it could be seen as positive for markets - Mark Mobius.
- Valuation Argument and datapoint
- For 2 weeks now: Nifty has sustained above 100 week moving average. It's now up 4.25% in 2 weeks. This is what Nifty did over last 5 days
- Nifty got big help from Bank Nifty which is up 7.9% in 2 weeks. Is Bank Nifty now at Resistance?
- There is growing realization that lower inflation is killing rural demand and that has slowed down consumption. There is lot of pressure on RBI to cut rates now. RBI is scheduled to announce bimonthly monetary policy review on September 29
- Global Turbulence? - Godrej Properties has broken out of resistance and looks set for higher levels if market remains supportive
- Sharp rally in INR on Friday. 1 USD = 65.75 now. It's highly probably that INR will witness depreciation in following week
- Wipro has built a base at 530 and quietly rallied.
- SKS Microfinance stock tanked on news that company failed to get small bank licence from Reserve Bank of India. Many investors reading this as warning sign. All support on the chart broken
- Investors may continue to second guess RBI’s reluctance to giving its license. SKS’s model may need some tweaking. Also, the company is susceptive to evolving strategies of its now licensed competitors ~ Morgan Stanley
- Naukri (Infoedge) stock has built a solid base at 725
- Tata Motors now at 320: Deep Value or Value Trap?
- What is Deep Value. I have explained this concept in this article
- One stock that is down and out: Credit Analysis and Research
- Jindal Stainless made a 19% move but stock has a poor history of follow through move
- The old joke about technical analysis is that it works, until it doesn't. That's because it's usually all about identifying trends and following them until they break down
- China is hoarding Oil and this might be providing floor to crude oil prices
- Economic History: On August 15, 1971, President Nixon issued an executive order to “close the gold window” and stop official conversions between the dollar and gold
- If someone sends you a message to inform you that he doesn't care about what you think, he cares a lot about what you think. ~ https://twitter.com/nntaleb.
- It is more important to listen to the market... and not to opinions.
- Chalte Chalte
ChartSource: Chartalert.com [Indian Stocks]
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers