While the Nifty has been acting quite well, the Indian Rupee has not been very bullish at all to say the least. This impact is being felt on the EPI index which is exposed to currency risk as well in addition to equity risk, a fact which is overlooked by some market participants.
In any case, the way it has been acting, makes it look like further lows are ahead, with my algorithm returning the following positions as being viable matches. Both of these lead to a lower low. I think it will stop at 24, but I really have no idea where it will stop falling. Therefore I will acquire positions only on the trendline being broken to the upside
In any case, the way it has been acting, makes it look like further lows are ahead, with my algorithm returning the following positions as being viable matches. Both of these lead to a lower low. I think it will stop at 24, but I really have no idea where it will stop falling. Therefore I will acquire positions only on the trendline being broken to the upside
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Close to the trendline here -- breaking out of there would mean it is a potential buy again!
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With that break in the trendline, I will be getting in long on a pullback.
