NIFTY - M.O.A.B Vs "Optimus"
MOAB, Mother of All bubble is the analogy lots of social media posts. Some even calling for that to unfold in the month of October itself. Talk of not 100 but 150 dollars doing the rounds. Bonds Down (yields up), Credit Ratings coming down, Crude prices hit, liquidity is squeezing, USD up, Equities wilt, Signs are omnivorous. US economy continues to print more than expected growth, China returning, Japan inflation still manageable. Higher Crude prices at the current prices are not going to hurt, unless they move past the 110 mark to start. Every aspect of the base effect has increased. Despite all the known bearish information, one has to ask the basic question then what is that the market expecting it to unfold for the MOAB. If despite all this information markets are not tanking, then this is the best bull market of all times when seen in retrospective. Let that be resolved by the markets than by us. Another interesting information is the unveiling of OPTIMUS, the new ROBOT from Elan Musk. With horizontal gravitation, built completely by the AI not humans, ability to identify the colour, one more step to positivity. Fear Greed are the two forces, but the bigger force is ignorance that drives the markets either up, down or neutral. Today that ignorance can be cause and effect of market inability to leap either way. It is almost six continuous days of down move. Yesterday just flat, but then sold off from the highs. Cues are not green. In the current frame held at the MBB, next is the long trendline drawn from the recent base (a place of failure of H n S pattern. The support line drawn from the previous top points closer to 19K. The shorter horizontal line which is around the 19580 is the worry as it is not far off. Big frames 19200-20200 dictates for consolidation, while shorter frames push towards 19500-19800 range. For the day below 19730 19580 is one stab. Trade small and profit taking remains the sane word in any place, size and value. The Congestion Index is clearly showing slowing down, but still positive. Struggling to keep the upside, cues overseas also are in similar or much more bearish tone. Stay cautioned by Risk than by Reward.
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