On 27th July 2018 we witnessed the Blood Moon, Longest Total Lunar Eclipse of the Century !!!
# Astrologically, this eclipse was along with exalted Mars in Capricorn, supposed to be a fiery combination. Also Mars was in 'Opposition' i.e. Mars-Earth-Sun came in a straight line on same day. Mars will also be closest to Earth since 2003 on July 31st. Looks like a Bearish set up overall which can show effect going ahead.
# Nifty P/E has crossed 28 levels and we can see from the chart below what happens in such a zone. Not many front line stocks have participated in last Upmove making it a suspect.
# FII's have been selling in Cash for last three months since we made the bottom of 9952 and reversed for this leg of Upmove. Though FII effect is somewhat nullified since Demonetization after which DII's have been leading/balancing the Market with much liquidity coming in for Mutual Fund investment.
# Elliott Wave Probability that is being tracked was Bullish for Long Term since the low of 5119 was made in 2013 and was updated in Blog.
This is a Link from a 2014 Post before the General Elections:
http://aar-vee.blogspot.com/2014/05/elliott-wave-technical-analysis-for.html#more
The Chart below is from the same Post above :
#EW Probability as of now :
Conclusions :
1. As of now there is No TA Signal of Nifty Topping out.
1. Resistance in Short Term (This series and Next) may come in 11365-500 zone or above in 11850-12000 zone.
2. Set up looks Bearish/Sideways for Medium Term (may be till 2019 Elections).
3. Stock Market will be in Long Term Uptrend targeting much higher levels ( Nifty 13300 and above) in Years to come till 8969 is held in any correction as of now.
4. The Caution now should be on Long side for Positional Trading. New deployment of Capital in Equities should be resisted at these levels.
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