The indian stock market index is at the brink of breaking out massively here, in this currency adjusted chart. If it manages to move over this trendline resistance it can confirm a quarterly timeframe trend pointing to a large advance in the coming 12 quarters, as shown on chart. Emerging market stocks become interesting with potential weakness in the dollar going forward, and rising oil prices. The big slump in energy prices certainly helps equities going forward, with a delated effect, as explained by @timwest in his publications, since transportation and energy are one of the key inputs of the economy.
I'd keep an eye on it and look for good valuation indian companies, if there's a breakout in this chart.
Cheers,
Ivan Labrie.
I'd keep an eye on it and look for good valuation indian companies, if there's a breakout in this chart.
Cheers,
Ivan Labrie.
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Still not breaking past the resistance line here, keep an eye on it. $SPX is now trending.
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Once above this resistance line the stock market can surge, I would set an alert for a close above it.
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Finally holding over resistance, indian stock market can lift.
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