In today’s briefing:
- EQD | NIFTY Index WEEKLY: Topping (In The) Tails
- Morning Views Asia: AAC Technologies Holdings, JSW Steel Ltd, Reliance Industries
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.
Morning Views Asia: AAC Technologies Holdings, JSW Steel Ltd, Reliance Industries
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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