BSE India Sensex Daily Chart Prints All-Time High Above 40,000 on Modi Election Victory

India is in the mood for more Modi as evidenced by his landslide election victory. He has the huddled masses buying what he's selling. Global investors are tripping over each other to buy Indian stocks. India is the fastest growing economy in the world. The BSE Sensex pops over 40K and the Nifty prints above 12K at all-time record highs. Indians celebrate with a curry feast. It is interesting that the index continues to list the name 'Bombay' since that word has become less used and moved into the background since it represents the days of colonialism.

AAPL went all-in to China predicting high-growth and big sales numbers. Instead, a trade war occurs and the consumers are more loyal to Chinese products. Apple CEO Cook then jumped over to India predicting unlimited riches as new Indian consumers grab the pricey iPhones. That ain't happening either. Indians are generally thrifty folks, which is smart, and prefer inexpensive phones that perform pretty much all the same functions as an iPhone. Cook may have to cook the books to make his numbers going forward.

The BSE launched higher in Thursday's trade tagging 40,125 the all-time record high. However, the joy quickly faded after the market fell on its sword intraday collapsing to a low at 38652. The curry was taken back to the kitchen. In Friday's trade, today, 5/24/19, the BSE finishes the day at a new all-time closing high at 39435 (green dot).

Caution; the BSE monthly chart is in negative divergence across all its chart indicators so India is actually printing a multi-month and perhaps multi-year major top. Do not chase the upside instead look at shorting opportunities. Keystone does not have any positions currently in India ETF's. IFN, EPI, INDA, INDY and others are possible short plays moving through the remainder of this year. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.