Devang Mehra

Self Employed Equity Investor, Technical Analyst and an Independent Derivatives Trader since 2015.

[Evan @StockMKTNewz]

Goldman Sachs just raised its price target on Nvidia $NVDA to $605 from $495 while maintaining its Buy rating

JPMorgan raised its price target on Nvidia $NVDA to $600 from $500 while maintaining its Overweight rating

Bank of America raised its price target on Nvidia $NVDA to $650 from $550 while maintaining its Buy rating

Morgan Stanley raised its price target on Nvidia $NVDA to $630 from $500 while maintaining its Overweight rating

Citi raised its price target on Nvidia $NVDA to $630 from $520 while maintaining its Buy rating

Wells Fargo raised its price target on Nvidia $NVDA to $600 from $500 while maintaining its Overweight rating

Rosenblatt raised its price target on Nvidia $NVDA to $1,100 from $800 while maintaining its Buy rating

Barclays raised its price target on Nvidia $NVDA to $650 from $600 while maintaining its Overweight rating

Piper Sandler raised its price target on Nvidia $NVDA to $620 from $500 while maintaining its Overweight rating

Jefferies raised its price target on Nvidia $NVDA to $610 from $500 while maintaining its Buy rating

Mizuho raised its price target on Nvidia $NVDA to $590 from $530 while maintaining its Buy rating

Evercore raised its price target on Nvidia $NVDA to $600 from $550 while maintaining its Outperform rating

TD Cowen raised its price target on Nvidia $NVDA to $600 from $500 while maintaining its Outperform rating

Bernstein raised its price target on Nvidia $NVDA to $675 from $475 while maintaining its Outperform rating

Wolfe raised its price target on Nvidia $NVDA to $630 from $570 while maintaining its Outperform rating

HSBC raised its price target on Nvidia $NVDA to $800 from $780 while maintaining its Buy rating

Baird raised its price target on Nvidia $NVDA to $750 from $570 while maintaining its Outperform rating

Keybanc raised its price target on Nvidia $NVDA to $670 from $620 while maintaining its Overweight rating

Oppenheimer raised its price target on Nvidia $NVDA to $650 from $500 while maintaining its Outperform rating

Raymond James raised its price target on Nvidia $NVDA to $600 from $500 while maintaining its Strong Buy rating

Wedbush raised its price target on Nvidia $NVDA to $600 from $490 while maintaining its Outperform rating

UBS raised its price target on Nvidia $NVDA to $560 from $540 while maintaining its Buy rating

Deutsche Bank raised its price target on Nvidia $NVDA to $560 from $440 while maintaining its Buy rating

BMO raised its price target on Nvidia $NVDA to $600 from $550 while maintaining its Outperform rating

BNP Paribas upgraded Nvidia $NVDA to Outperform from Neutral while raising its price target to $745 from $440

Stifel upgraded Nvidia $NVDA to Buy from Hold while raising its price target to $600 from $440

[David Keller, CMT @DKellerCMT]

Advance-decline lines for the $NYA, $SPX, $MID and $SML all breaking below their 50-day moving averages this week, providing yet another example of a market in distribution phase. Be bullish when these lines are going up, not down!

[Devang Mehra @onlydevangmehra]

INDIA CPI (YOY) (JUL) ACTUAL: 7.44% VS 4.81% PREVIOUS; EST 6.50%

[Devang Mehra @onlydevangmehra]

Fed’s banking on CPI print of July to be released on August 10, 2023 to be declining sharply towards 2% just as the July CPI declined considerably to 3% earlier realised this month.
The problem is one higher CPI print between now and the September FOMC and this show is over.

[Devang Mehra @onlydevangmehra]

Maximum Exuberance?

[FinancialJuice @financialjuice]

FED'S POWELL: I DON'T SEE INFLATION BACK AT 2% UNTIL ABOUT 2025.

[Devang Mehra @onlydevangmehra]

If DJIA closes in green today, it will match the longest winning streak. The longest winning streak on record is 13 trading sessions, which ended on January 14, 1987.

[Devang Mehra @onlydevangmehra]

Fed’s banking on CPI print of July to be released on August 10, 2023 to be declining sharply towards 2% just as the July CPI declined considerably to 3% earlier realised this month.
The problem is one higher CPI print between now and the September FOMC and this show is over.

[Devang Mehra @onlydevangmehra]

VIX all across the globe continues to remain depressed which seems like has become the new normal. Any breakout and sustaining above 12-13 should give you some important clues about the next few weeks.

[Devang Mehra @onlydevangmehra]

Indian Equity Money flow has been very synonymous and directly correlated with commodities such as gold/silver which has also been surging in last few weeks. Trend in commodities to be tracked for the same because this week we saw weakness in silver and to an extent in gold.

[Devang Mehra @onlydevangmehra]

FII long exposure in index has been above 70% since July 3. Today it has dipped below 70 and is currently at 67%.

[Devang Mehra @onlydevangmehra]

Bullish sentiment is at its highest level since April 2021; now unusually high. Bearish is at its lowest level since June 2021. Now at the bottom of its typical range…

[Devang Mehra @onlydevangmehra]

USDINR VS DXY
Despite huge selling pressure in DXY, INR continues to trade at 82 over the months. With DXY pulling back this week, will the next month show depreciation in INR if dollar does continue to increase in value or is this just another pullback on DXY…

[Devang Mehra @onlydevangmehra]

Weekly RS chart for $QQQ (tech etf) vs $DIA (industrial average etf). Resistance coming in from 1.10 which was the high at the time of 2000 tech bubble. Tech has never been stronger than the industrial group by more than 1.1 times since the 2000 dot com bubble.

[Devang Mehra @onlydevangmehra]

Apple vs Nasdaq
Nasdaq and $AAPL almost always mimic each others’ movements and directions until this week and a few instances over the last few years. What does these divergences entail, time will be the best judge.

[David Keller, CMT @DKellerCMT]

$NDX Bullish Percent Index just gave a sell signal this week, suggesting pullback mode for large cap growth. Downside objective for $NDX?..
https://t.co/zzLMQ8syvj

[David Keller, CMT @DKellerCMT]

Nasdaq 100 Bullish Percent Index $BPNDX is now at the 70% level. History tells us that when this indicator goes above 70% and then breaks back below, there's your downside correction. Maybe the most important chart to watch to gauge a potential pullback within a raging bull! $QQQ

[AAII Sentiment Survey @AAIISentiment]

AAII Sentiment Survey:
*Bullish: Highest since 11/21/21 (48.0%), first time above average on consecutive weeks since November 2021
*Bearish - Lowest since 7/21/21 (22.2%)
https://t.co/CPRW7Qb6JE

[Devang Mehra @onlydevangmehra]

Last month WTI crude was down over 11% which has massively contributed to lower inflation at 4% (2 year low). Core CPI (which ignores food and fuel) is still north of 5% since 2022.