Indian stock market correction
The technicals for the five major U. The Nasdaq Composite NDAQ continues to have a positive but overbought weekly chart, and remains below its all-time intraday high of 5.
Overseas, the Nikkei continues to have a negative weekly chart. The Shanghai Composite will likely end the week with a downgrade to a negative weekly chart. The German DAX could have a downgrade to neutral or negative as this week comes to an end. The Nifty 50 will continue to have a positive but overbought weekly chart. It's been a week without new highs for any of the nine major global averages. India's Nifty 50 is the only major overseas average to set a new high in , and each of the other three remain below highs set between April 10, , and June 24, Jim Cramer is bullish on Walt Disney, Tiffany, NASDAQ; but he's bearish on Mazor Robotics.
Growth stock are taking a breather, says Jim Cramer.
India may see sharp correction anytime, but is still the best market in EMs: Chris Wood - kysiqubonypun.web.fc2.com
So here's your game plan for next week. Jim Cramer has the game plan for next week, including earnings from Thor Industries and HD Supply. The Nasdaq is up 9.
Indian stock|share market tips|equity research reports|technical analysis
On the weak side of the ledger, Dow transports is up just 0. The week simple moving average is a major support at 16, Weekly momentum is projected to decline to Buy weakness to my quarterly value level of 16, My monthly pivot is 19, Reduce holdings on strength to my annual risky level of 20, The week simple moving average is a major support at 2, The average remains mired in bear market territory Buy weakness to my quarterly value level of 2, My monthly pivot is 3, Reduce holdings on strength to my annual risky level of 3, The week simple moving average is a major support at 7, Weekly momentum is projected to end the week at Buy weakness to 8, and 8,, which are my monthly and quarterly value levels, respectively.
Error (Forbidden)
Reduce holdings on strength to my semiannual and annual risky level of 9, and 10,, respectively. Otherwise, the chart will be neutral, possibly negative. The week simple moving average is the major support at 10, Buy weakness to my quarterly value level of 9, My monthly pivot is 12, Reduce holdings on strength to my semiannual and annual risky levels of 12, and 12,, respectively.
The week simple moving average of 17, Weekly momentum is projected to end the week slipping to Buy weakness to my quarterly value level of 19, My semiannual pivot is 20, My annual value level is 15, Sell strength to my annual and semiannual risky levels of 22, and 22,, respectively. The week simple moving average is a support at 2, My annual value level lags at 1, Sell strength to my semiannual risky level of 2, My annual and semiannual risky levels are 2, The week simple moving average of 4, Weekly momentum is projected to slip to Buy weakness to my quarterly value level of 5, My monthly and semiannual pivots are 5, and 5,, respectively.
My annual value level is 4, with annual and semiannual risky levels at 6, and 6,, respectively. The week simple moving average is a major support at 8, Weekly momentum is projected to end the week sliding to My annual and quarterly value levels are 7, and 7,, respectively, with a weekly pivot of 9, Sell strength to my monthly and semiannual risky levels of 9, and 9,, respectively.
Annual and semiannual risky levels are 10, and 10,, respectively. Otherwise, the chart will be upgraded to neutral.
The week simple moving average of 1, Buy weakness to my quarterly value level of 1, My annual value level is 1, Sell strength to my monthly and semiannual risky levels of 1, My annual and semiannual risky levels are 1, The Nasdaq will have a positive but overbought weekly chart.
At the time of publication, the author held no positions in the stocks mentioned. The Nikkei 18, The Shanghai Composite 3, The Nifty 50 9, The German DAX 12, The Dow Jones Industrial Average 20, The Nasdaq Composite 5, The Russell 1, Action Alerts PLUS is a registered trademark of TheStreet, Inc.
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