FIIs were net sellers of equity on all three trading days this week. Their total net selling was worth a huge Rs 45.2 Billion. DIIs were net buyers on all three trading days. Their total net buying was worth Rs 29.5 Billion, as per provisional figures.
Domestic air passenger traffic grew 16.53% to 11.86 million in May '18 as compared to 10.17 million in May '17, according to data released by DGCA.
Overseas funds are pulling out of six major Asian emerging equity markets at a pace unseen since the global financial crisis of 2008 — withdrawing US $19 Billion from India, Indonesia, Philippines, South Korea, Taiwan and Thailand so far this year, according to Bloomberg.
The daily bar Chart pattern of Nifty shows that bears are putting up strong resistance by defending the down trend line. Following last Wednesday's intra-day breach, the index dropped to seek support from the 'gap' formed on Feb 5.
The index bounced up today and closed above its three EMAs in bull territory. A convincing move above the down trend line is necessary for bulls to regain control of the chart.
Daily technical indicators are in bullish zones, but not showing any upward momentum. A fall below the 50 day EMA can lead to a test of support from the 200 day EMA.
Nifty's TTM P/E has slipped a bit to 26.52 - which is still much higher than its long-term average. The breadth indicator NSE TRIN (not shown) is showing downward momentum in neutral zone, and can trigger some near-term index up side.
FIIs continue to sell heavily. The Rupee is weakening against the US Dollar. The OPEC meeting on Jun 22 will decide the near-term trend in oil's price. Trump's trade war with China can upset global economic growth trajectory.
All of the above may increase volatility in the stock market. So, remain cautious. The rising 200 day EMA is an indication of a bull market. No need for any panic selling or impulsive buying.
Domestic air passenger traffic grew 16.53% to 11.86 million in May '18 as compared to 10.17 million in May '17, according to data released by DGCA.
Overseas funds are pulling out of six major Asian emerging equity markets at a pace unseen since the global financial crisis of 2008 — withdrawing US $19 Billion from India, Indonesia, Philippines, South Korea, Taiwan and Thailand so far this year, according to Bloomberg.
The daily bar Chart pattern of Nifty shows that bears are putting up strong resistance by defending the down trend line. Following last Wednesday's intra-day breach, the index dropped to seek support from the 'gap' formed on Feb 5.
The index bounced up today and closed above its three EMAs in bull territory. A convincing move above the down trend line is necessary for bulls to regain control of the chart.
Daily technical indicators are in bullish zones, but not showing any upward momentum. A fall below the 50 day EMA can lead to a test of support from the 200 day EMA.
Nifty's TTM P/E has slipped a bit to 26.52 - which is still much higher than its long-term average. The breadth indicator NSE TRIN (not shown) is showing downward momentum in neutral zone, and can trigger some near-term index up side.
FIIs continue to sell heavily. The Rupee is weakening against the US Dollar. The OPEC meeting on Jun 22 will decide the near-term trend in oil's price. Trump's trade war with China can upset global economic growth trajectory.
All of the above may increase volatility in the stock market. So, remain cautious. The rising 200 day EMA is an indication of a bull market. No need for any panic selling or impulsive buying.
This post first appeared on Stock Market Charts | India Mutual Funds Investmen, please read the originial post: here
