Nifty – SROC Retracement till Neckline of H&S pattern

The SROC indicator for Nifty has retraced to the neckline of Head & shoulder pattern formed on it.
We all have observed the fall in Nifty when the neckline was broken & then the recent up move.
As per the pattern definition, IF the indicator moves down from here then there is a great chance of big fall. The rise above the Neckline will force Bears to cut short & Nifty ca witness new high.
Normally Bears waits for this retracement till neckline for shorting again. Watch out as it coincides with the F&O expiry.


Chart is drawn using closing rate of Nifty.

Disclosure: I may have position or maybe trading in above said stocks for myself/ family members / friends / Associates.

Indian Rupee effect on Equity Market

Due to big Public offer of DLF, ICICI Bank & Vishal Retail, there was surge of Foreign funds in India. This in turn has strengthen Indian currency & very likely it will soon break the level of Rs.40/- against USD. Still some more big public issues are lined up. Watch out if you are long on USD against Indian Rupees.

In case of equity trader, using this benchmark work out which sectors will be benefited & which will be hit. Work out your plans properly before tornado hits you. Think & will get your answer what lies ahead in July series.

Take good care of yourself, your family & your money. Think hard, Think best & world is yours.

Switching from Equity Market to Forex

Equity markets can be used as a key indicator for movement in the Forex market. With latest technology, investing in global equity markets has become far more feasible. A Bull market in any part of the world dish out a perfect opportunity for an investor of any geographic location. This results in a strong correlation between a country's equity markets and its currency; as rising market brings more foreign investment & thus buying of local currency pushing it northward. Perfect Example is to be seen in respect of Indian Equity Market & Indian Rupee.