Nifty PE crosses 24|A statistically informed entry-exit model!

[homemaker]

Sharing a post on H&S pattern from VP.

Hitesh portfolio

@Ankur_Lakhia , For a head and shoulders pattern to play out, its not necessary for the two shoulders to be of same magnitude. The right shoulder or even the left one may be smaller than its counterpart. Attached chart shows the pattern. If and when the pattern plays out it points out to targets in range of 8500-8600 where the retracement of entire rise is placed. The current rally has taken a lot of people and even technical analysts by surprise. People have changed their views from a poss…

Inspite of overvaluation, deluge of news on global slowdown, US markets in bear category, India political uncertainty, somehow Nifty PE is holding over 25 level. This is quite counter intuitive and frustrating for buyers with cash waiting for a significant correction.

Let’s watch out for earnings recovery in Jan and April. May be market excepts a double digit growth in EPS YoY.