In today’s briefing:
- EQD | KOSPI 200 Index WEEKLY: Rising After a Brief Pullback
- EQD | NIFTY Index WEEKLY: Topping (In The) Tails
EQD | KOSPI 200 Index WEEKLY: Rising After a Brief Pullback
- The KOSPI 200 (KOSPI2 INDEX EQUITY) last week closed the week down (CC=-1) after a strong rise the previous week. Could be getting ready to rise higher.
- The index last week tested supports in the Market Reversal Matrix’s Q2/Median support area (around 335).
- Valid support levels for the coming week (if CC=-2) are between 333 (Q2) and 324 (Q3).
EQD | NIFTY Index WEEKLY: Topping (In The) Tails
- The NIFTY Index has been in a strong rally since early April 2023, returning almost +17% as of last Friday’s Close. The MRM tool shows the index is OVERBOUGHT WEEKLY .
- The NIFTY Index has reached a “Tails” area of the current pattern: forecasts in these price areas are less reliable, but the MRM tool indicates the index is topping.
- SHORT trades can be implemented at prices > Last Close (19745). Higher prices are possible, it could take +1/+2 weeks for the index to complete its topping process.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
