Perhaps it was GOOD FRIDAY to see S&P 500 closing above 2900 previously over coming the two major hurdles at 2863, 2873 and 2899 closing above 2899 ie., on 2907.41 ON 12 April 2019. Now the only hurdle is at 2916 towards the previous high of 2940 of 21st Sept 2018. Again Considering or better comparing short and long Simple Moving Averages of S&P 500 of 28 August 2018 and of 12 April 2019 are quite similar but on 28 August 2018 S&P 500 closed on 2897.52 and on 12 April 2019 S&P 500 closed on 2907.41 PERHAPS INDICATING TO BREAK THE FIRST HURDLE TOWARDS 2916.5 AND ON WARD JOURNEY TOWARDS 2940 AND 3000 (NEW TOP).
Similarly in Indian Markets Nifty closed on the positive note on 11643 on 12 April and today ie., on 15 April 2019 making a high of 11704 closed on 11690 as mentioned earlier (THAT REAL GROWTH IN NIFTY STARTS BEYOND 11680) .
Nifty first attained the levels of 11570 on 22 March 2019 and till 11 April 2019 were in the consolidation phase of 11570 -11585 -11596 till 11 April 2019 on 12 April 2019 closed on 11643 and today 15 April 11690 (ONCE AGAIN SEEMS TO CONFIRM NIFTY GOING BEYOND 11761 AND PERHAPS TOWARDS 11860-11960 AND BEYOND.
Strong NIFTY IT, NIFTY FMCG and NIFTY PHARMA will lend the support for the above growth and also to mention specially RELIANCE INDUSTRIES AND LT WITHOUT WHICH FURTHER GROWTH TOWARDS 11760 AND BEYOND IS IMPOSSIBLE.
Finally the two holidays ie., on 17 April 2019 and 19 April 2019 and expiry in the next week, coming Trading Sessions are going to be full of surprises.
market analysis 