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Ashish Ghosh is a NCFM certified research analyst for the global and Indian financial markets. With more than 15 years of experience in the capital market, Ashish has been published in high-profile online media regularly. He holds a B.Sc. in Math along with NCFM certification for Technical and Fundamental analysis. Presently, he is working with iForex as a financial analyst/content writer since 2017, analyzing mainly the global and Indian markets. You can reach him for professional levels trading ideas or signals through Gmail/telegram ID: ashishghoshjpg/asisjpg

Monday, 8 August 2016

S&P-500: 2180-2190 may be a big hurdle despite better outlook of US economy; at TTM PE of around 24.80, SPF may be quite expensive

Oil & probable SWF selling, China devaluation & credit concern, Brexit uncertainty, Italian banking crisis & US election uncertainty (Trump presidency ?) may drag despite "power of central bank liquidity"---

Trading idea: SPF

CMP: 2177

Sell around 2180-2190 or on rise around 2210-2220;

 TGT: 2165-2130*-2119-2095*-2065-2030-2010-1998-1980*-1945 (1-3M)

 TSL> 2200 OR > 2230
Note: Sustaining above 2200-2205 zone, SPF may further rally towards 2210-2220 area, which should offer strong resistance and only consecutive closing (3 days) above 2230 for any reason, SPF may further rally towards 2260*-2276-2297* & 2326-2365* area in the near to long term (alternative bullish case scenario from the current trading level).

Anyone holding long position in the SPF and prefer to do so, may also watch 2165-2130* zone as near term positional support.

Analytical Charts:








 
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