• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

India Stock Market: ‘Bullish Flag’ In 2018 Suggests India Bull Market To Resume

By Kurt Osterberg · On April 6, 2018

The stock market in India was our favorite global stock market in 2016 and 2017. We wrote about this extensively as loyal readers know in the meantime: India Stock Market Breaking Out. Is This A Buy Signal? (April 2016), India Stock Market At 9,000 Points, Long Term Very Bullish (February 2017), India Stock Market Remains Bullish (September 2017).

Towards the end of January, the Nitfy 50 index, representing the 50 largest companies/stocks in India, took a dive of 1000 points which represents some 13 percent. As of that point Indian stocks have been weak.

However, there is a bullish sign which is visible. Where and how? Very simple, in analyzing markets, stocks or commodities, we look for early signs on the daily chart, and then zoom out to see what they could mean on the weekly or monthly chart.

If we apply this to the Nitfy 50 we see a breakout of a bullish flag, see the first chart.

On the weekly chart we get a confirmation that this is meaningful. As said many times before the 10,000 level was a psychologically important area which provided quite some resistance. Recently, this level acted as support.

So the daily and weekly charts are nicely aligned, and the breakout on the daily nicely lines up with the findings on the weekly. We get very bullish again on India, and see a buy opportunity for the longer term. The most popular ETFs are INDA and INDY, with INDL being an ETF with 3x leverage (be extremely careful with leverage though we certainly do not recommend leverage).

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    Bored Ape Metaverse Launch Date set for April 30

  • Finance

    Celebrity Backed NFT Collections to Invest in 2022

  • Finance

    Bored Ape Metaverse Launch Date set for April 30

No Comments

Leave a reply Cancel reply

Top Finance

  • 3 Best Large-Cap Blend Mutual Funds For Enticing Returns 3 Best Large-Cap Blend Mutual Funds For Enticing Returns
  • Hedge Funds In The US Hedge Funds In The US
  • What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage What is Value Chain Analysis? How to Deliver Value & Gain a Competitive Advantage
  • 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement 5 Ridiculously Useful Non-Monetary Reward Examples that Improve Employee Engagement
  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce

New Posts

  • Bored Ape Metaverse Launch Date set for April 30

    Bored Ape Metaverse Launch Date set for April 30

    April 24, 2022
  • Celebrity Backed NFT Collections to Invest in 2022

    Celebrity Backed NFT Collections to Invest in 2022

    April 24, 2022
  • Bored Ape Metaverse Launch Date set for April 30

    Bored Ape Metaverse Launch Date set for April 30

    April 24, 2022
  • Mutant Ape Yacht Club Hits 32 ETH All Time High Price Floor

    Mutant Ape Yacht Club Hits 32 ETH All Time High Price Floor

    April 22, 2022
  • Rare CryptoPunk #7756 sells for $3.2 million (1050 ETH)

    Rare CryptoPunk #7756 sells for $3.2 million (1050 ETH)

    April 22, 2022
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.