Skip to main content

S&P/ASX 200 forecast for coming week ended 9th November, 2012.

Last week I was expecting that if S&P/ASX does not break 4525 then there is a chance that it may drop in later periods of the week but it is good to see that it maintains 4450 levels.

Last week I was talking about a short-term bearish pattern but since it did not test levels around 4600 levels so that option is not very sure. Yesterday’s close was not good; I am not sure whether S&P/ASX will be able to maintain 4450 levels. If it drops from here then 4350 level may act as a good support area though it has initial support level at around 4420 ranges. As I said in past that chance of making medium term bearish pattern is still there if S&P/ASX tests below 4300 level in the downside.

Considering the movements of S&P/ASX in last few months, there is a chance that it may hold in these levels or may test just below 4450 (flat moves) so in that case it may again test higher levels. Though it is not easy to predict for sure but if it fails to test around 4525 in the upside then that may not be good for S&P/ASX and on the other hand 4600 may not be too easy.


NOTE Please see the disclaimer of this blog.

Comments

Popular posts from this blog

DAX forecast for coming week ended 15th March, 2013.

This week was very good for Dax, though it is getting resistance at 8100 range. Now it has a chance to test downside again. I think even if Dax tests lower levels, it has more chance to bounce back from around 7800 range and therefore it will again test upside.

On the other hand if it shows flat movements around 8000 range in initial days of the coming week then there is a chance that it may take a decisive call in later days. Considering the recent trends it has the chance to test higher levels may be around 8200 but that will be a very aggressive call after taking in to account the movement from last December. I will worry about the downside when Dax will be testing levels below 7600 ranges.
NOTE: Please see the disclaimer of this blog.

Fed’s rate hike Vs Sovereign rating up gradation

Financial market is very much worried about the rate hike in US, probably this is going to come in coming December. But I think that is not going to change much of the things. Even Fed hikes rate in December it will be not so much, because we are forgetting one thing that interest rate in US is around zero so even they hike rate by 0.25-50% basis points (at most) in this year that will not be enough cause for Dollars to change their locations around the world especially markets have already discounted this coming rate hike in US.

A new disaster is coming in EU banking sector, whom to blame, big Audit firms!

First I was thinking what should be the title of this posting? Will it be good if I write that big audit firms set the time for EU bank collapse! If someone is thinking that financial crisis is over then think twice because the coming EU banking crisis is no way less than 2008 financial crisis. The time bomb will explode at some point of time in future, the time has not yet set for it. In that tsunami, forget about the smaller if any major banks collapse then I will not be surprise.