{"id":27508,"date":"2014-05-24T08:30:42","date_gmt":"2014-05-24T12:30:42","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=27508"},"modified":"2014-05-23T16:03:23","modified_gmt":"2014-05-23T20:03:23","slug":"indian-stocks-you-want-a-real-opportunity-know-when-to-look-for-it","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2014\/05\/indian-stocks-you-want-a-real-opportunity-know-when-to-look-for-it\/","title":{"rendered":"Indian Stocks: You Want a REAL Opportunity? Know WHEN to Look for It"},"content":{"rendered":"

Why the Nifty and many other emerging market stocks screamed \"Buy!\" three months ago <\/span><\/h3>\n

By Elliott Wave International<\/span><\/h3>\n

From Elliott Wave International's February Asian-Pacific Financial Forecast<\/em> (published Feb. 7):<\/p>\n

...Bloomberg reports that \"more than $7 billion flowed from ETFs investing in developing-nation assets in January, the most since the securities were created.\"<\/em> Such massive selling...supports our view that emerging markets are ending<\/strong> large-degree three-wave declines.<\/p>\n

Conventional observers are asking the question, \"Is this 1997 all over again?\" (The Economist)<\/em><\/p>\n

The way we see it, the return of such headlines in January supports another significant low now<\/strong> -- from a contrarian perspective.<\/p><\/blockquote>\n

EWI's Asian-Pacific Short Term Update<\/em> editor Chris Carolan soon echoed those bullish views. Here is a forecast the APSTU<\/em> made for India's Nifty Index on March 4:<\/p>\n

\"\"<\/p>\n

The strong short-term Nifty rally has pushed prices above their upper daily Keltner channel resistance level.<\/p>\n

Look for this [rally] up to push through the 2014 highs at 6400 in coming sessions.<\/strong><\/p>\n

The intraday Keltner channel slope is steep, indicating this trend has enough strength for sharp short-term gains.<\/p><\/blockquote>\n

You've already picked up on the indicators we used to turn bullish on emerging markets in general, and on India in particular:<\/p>\n

    \n
  1. A bottoming Elliott wave pattern - and a start of a strong Elliott wave rally<\/li>\n
  2. A bearish market sentiment extreme towards Indian stocks, evident by the panicky headlines in January-February, plus big capital outflows from emerging market ETFs<\/li>\n
  3. The fact that the Nifty broke above a key trend channel. See those two dotted lines in the chart above? That's the Keltner channel*<\/strong>, a very effective trend-defining tool.<\/li>\n<\/ol>\n

    As Indian stocks progressed higher, on March 9 Chris Carolan updated his bullish forecast and added this comment about India's upcoming elections:<\/p>\n

    Bloomberg<\/em> reports that the Nifty's rise to new all-time highs on [March 7] occurred \"amid speculation the opposition Bharatiya Janata Party is gaining support before general elections that start next month.\"<\/p>\n

    But from the perspective of the Wave Principle, the index's strong advance was a textbook bullish breakout in a third-of-a-third wave advance.<\/p>\n

    Volume hit its highest level in over a year. Momentum did as well, which suggests that the day's advance was part of a third wave. The weekly Keltner channel lies almost four percent above current levels, which also supports clear sailing in the short term.<\/p>\n

    Conventional analysts can rationalize the rally any way they want, but India's...bull market will continue no matter which party wins the elections.<\/strong><\/p><\/blockquote>\n

    By the end of March, Indian stocks shot up 10%.<\/p>\n

    Then in April, the Nifty added another 4.9%.<\/p>\n

    And just this week -- the week of the elections -- both the Nifty and the Sensex hit new all-time highs.<\/p>\n

    Now, Chris Carolan says this in the May 13 Asian-Pacific Short Term Update (partial wave labels shown):<\/p>\n

    \"\"<\/p>\n

    The Nifty is up 6.7% in three trading sessions...<\/p>\n

    Risk management is a never-ending task. It's always a good idea to reduce exposure when markets move dramatically.<\/p>\n

    We have to remain prepared for any outcome.<\/p><\/blockquote>\n

    Chris Carolan is a recipient of the Charles H. Dow Award from the Market Technicians Association. He has his own unique way of looking at European and Asian-Pacific markets that is beneficial for investors and traders alike. Chris will be hosting a free webinar<\/strong> on May 29 where he will share some of his insights into these markets. See below for more details.<\/p>\n

    \n\n\n\n
    \"\"<\/a><\/td>\nDo You Want to Be Prepared to Capture New Trends?<\/span><\/strong><\/p>\n

    Then join EWI's European<\/em> and Asian-Pacific Short Term Update<\/em> editor Chris Carolan, FREE, for a live webinar on May 29:<\/p>\n

    \"3 Effective Tools for Navigating International Markets\"<\/strong><\/a><\/p>\n

    You will walk away knowing how you can use these 3 tools to forecast markets you<\/strong> invest in:<\/p>\n

      \n
    1. Keltner channels<\/li>\n
    2. Jurik RSX (a momentum indicator)<\/li>\n
    3. And, of course, Elliott wave analysis<\/li>\n<\/ol>\n

      Go ahead, grab your free virtual seat at this May 29 webinar now.<\/a><\/p>\n

      Just tell us where to send your free access instructions >><\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      \n

      This article was syndicated by Elliott Wave International and was originally published under the headline Indian Stocks: You Want a REAL Opportunity? Know WHEN to Look for It<\/strong><\/a>. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.<\/em><\/p>\n<\/div>\n

       <\/p>\n","protected":false},"excerpt":{"rendered":"

      Why the Nifty and many other emerging market stocks screamed \"Buy!\" three months ago By Elliott Wave International From Elliott Wave International's February Asian-Pacific Financial Forecast (published Feb. 7): ...Bloomberg reports that \"more than $7 billion flowed from ETFs investing in developing-nation assets in January, the most since the securities were created.\" Such massive selling...supports […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[6418,6420,169,6415,6419,6416,6417],"class_list":["post-27508","post","type-post","status-publish","format-standard","hentry","category-general","tag-chris-carolan","tag-elliott-wave-analysis","tag-elliott-wave-international","tag-indian-stocks","tag-jurik-rsx-a-momentum-indicator","tag-keltner-channel","tag-sp-nifty-index"],"yoast_head":"\nIndian Stocks: You Want a REAL Opportunity? 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