Seems like we will atleast revisit the recent highs...If not more. 4th wave of this C is done . Now one final 5th to complete the C and the X.
Monday, October 31, 2011
Look at a few stocks.
The volume action looks good for this one to be classified as a genuine double top. The stock should promptly return to 70 level.
TATA MOTORS --Nice Touch of the Broken Trend line . Also 50% retrace of previous fall. Momentum LOSS. This one should be SELL.
This stock is forming a Symmetrical triangle . The thing here we are not sure which way the break out will occur. Its striking the Trend line . If it breaks the Trend line with HUGE volume , its a buy . Just watch now. Break out should be very near
REPRO ---- Double TOP in this one . Should come down to 130.
HCL Tech . A classic RETEST of the TREND LINE . After the Head and Shoulders break down . Now a DARK CLOUD cover at overbought levels.
Canara Bank-- BEAR FLAG .
TATA MOTORS --Nice Touch of the Broken Trend line . Also 50% retrace of previous fall. Momentum LOSS. This one should be SELL.
This stock is forming a Symmetrical triangle . The thing here we are not sure which way the break out will occur. Its striking the Trend line . If it breaks the Trend line with HUGE volume , its a buy . Just watch now. Break out should be very near
Sasken :::BEAR FLAG
REPRO ---- Double TOP in this one . Should come down to 130.
JUBILANT FOODWORKS.::-It had a very good ride . but now the charts look DEADLY BEARISH . HnS pattern can be seen with DROPPING NECKLINE . Though HnS is not confirmed till now , its better to NOT HOLD this one . It had found support in its long term Trend line . it might not this time . This one is UGLY . This should target 350 levels.
HeroMotors. --Double TOP. Bearish Reversal Candle at TOP. What else do u need to make up your mind to sell.
HCL Tech . A classic RETEST of the TREND LINE . After the Head and Shoulders break down . Now a DARK CLOUD cover at overbought levels.
Gitanjali :--- people holding this one must be paying attention . though VOLUME action is not very clear , I still consider it as DOUBLE TOP . It has a higher chance of breaking the TREND LINE this time . Huge volume sell-off.
FORTIS :-- This one could be bought with a target of 144.
Canara Bank-- BEAR FLAG .
BEML should target 700. WolfeWAve target red line.
Saturday, October 29, 2011
Nifty--Fractal Forecast
Look at the Nifty daily chart and counts below.
I dont have 50 years of data with me . So i was just looking for similar patterns and I found one. This is the Nifty from June culminating with the MAURITIUS Collapse.
I dont have 50 years of data with me . So i was just looking for similar patterns and I found one. This is the Nifty from June culminating with the MAURITIUS Collapse.
Thursday, October 27, 2011
Nifty channel and COUNT
Remember that channel. Will try to HIT that channel and close the GAP at 5330.
(c) completed . I have placed a W there. Now doing X which should be a 3 wave . Now doing C of X.
5338 is 38.2% retracement of W , i.e from 6338 to 4720. That 5330 has a confluence of FIBO resistances . So BULLS should be carefull.
5 waves need to be spotted in this one . Pink parallel channeling.
Have to run to office . Will edit and post more info . I think shorts can still be held and dont square off at LOSS.
(c) completed . I have placed a W there. Now doing X which should be a 3 wave . Now doing C of X.
5338 is 38.2% retracement of W , i.e from 6338 to 4720. That 5330 has a confluence of FIBO resistances . So BULLS should be carefull.
5 waves need to be spotted in this one . Pink parallel channeling.
Have to run to office . Will edit and post more info . I think shorts can still be held and dont square off at LOSS.
Tuesday, October 25, 2011
Muhurat trading
SO we got the upmove . The underlying BULLISH TONE was felt because of an ASCENDING triangle like formation . But now we are at MASSIVE MASSIVE resistance zone . The GAP just over 5230 should also be major resistance .I dont see the nifty crossing that in the near term . Also at Overbought LEVELS .
SHorting today for a target of 5080, i.e 50 EMA( Close) by Monday . Todays EU meeting is also NOT EXPECTED to provide ANY REAL SOLUTION .
SHorting today for a target of 5080, i.e 50 EMA( Close) by Monday . Todays EU meeting is also NOT EXPECTED to provide ANY REAL SOLUTION .
Thursday, October 20, 2011
Nifty triangle
So its most probably forming a triangle in the 2nd wave of the C of the 4th .
Europe futures are in GREEN . Waiting for the EUROPE markets to open . The machines ( algorithms ) are doing most of the trading . At that point we might see a bounce in NIFTY to about 5130. At which point we SHORT again for a target of 5060 , which I expect to achieve today itself. At which point we will BUY for at least 5170 next week target .
No access to software live charts . Just SPECULATION.
Europe futures are in GREEN . Waiting for the EUROPE markets to open . The machines ( algorithms ) are doing most of the trading . At that point we might see a bounce in NIFTY to about 5130. At which point we SHORT again for a target of 5060 , which I expect to achieve today itself. At which point we will BUY for at least 5170 next week target .
No access to software live charts . Just SPECULATION.
Nifty
No access to software charts . Just watching SGXLIVE.in.
So We are still in the 4th wave . A , B completed . Now C going on .In that C we have completed 1st . Now we are doing the 2nd . The 2nd , as we are seeing for the last 2 days is showing volatilty , which might be an a-b-c or it may be a triangle. But the thing is i guess we will be going higher after this consolidation to touch 5170 or 5230 to complete the C and also the 4th .
UPDATE 1:05 PM : currently it looks after the steep fall in the morning , this is just a CONTINUATION pattern and we might touch at least 5010 . there is a chance we might go lower. Other supports are 4990 and then good support at 4970.
Currently at 5036
So We are still in the 4th wave . A , B completed . Now C going on .In that C we have completed 1st . Now we are doing the 2nd . The 2nd , as we are seeing for the last 2 days is showing volatilty , which might be an a-b-c or it may be a triangle. But the thing is i guess we will be going higher after this consolidation to touch 5170 or 5230 to complete the C and also the 4th .
UPDATE 1:05 PM : currently it looks after the steep fall in the morning , this is just a CONTINUATION pattern and we might touch at least 5010 . there is a chance we might go lower. Other supports are 4990 and then good support at 4970.
Currently at 5036
Wednesday, October 19, 2011
Illuminati POWER revealed
Maths and Physics can reveal a lot which is hidden. Once I came up with an article which said that 96% of all MEDIA companies were owned by just 6 MNCs. And these 6 recieve almost all their information which they feed to the public from 2 other companies --REUTERS and AP. So much for the "FREE " press.
The same CONCENTRATION can be found in the other INDUSTRIES including the all important CENTRAL BANKS of many countries.
One very important article yesterday showed with PROOF just how concentrated POWER is whereas most of the people in this world are WAGE and DEBT slaves.
Welcome to SLAVESHIP EARTH folks.
http://www.newscientist.com/article/mg21228354.500-revealed--the-capitalist-network-that-runs-the-world.html
The same CONCENTRATION can be found in the other INDUSTRIES including the all important CENTRAL BANKS of many countries.
One very important article yesterday showed with PROOF just how concentrated POWER is whereas most of the people in this world are WAGE and DEBT slaves.
Welcome to SLAVESHIP EARTH folks.
http://www.newscientist.com/article/mg21228354.500-revealed--the-capitalist-network-that-runs-the-world.html
Monday, October 17, 2011
Tuesday, October 11, 2011
India VIX
Nifty has seen an incredible rally. I was BEARISH last week as I thought that wedge would play out . But the bearishness Vanished after Nifty crossed 4930. But we have to keep an eye on the VIX . It looks like it is steadily risingas if about to break out Higher.
Updated from yesterdays chart . It stays above the TREND line.
Resting on that TREND line . With oversold conditions , we could shoot higher tomorrow.
Updated from yesterdays chart . It stays above the TREND line.
Resting on that TREND line . With oversold conditions , we could shoot higher tomorrow.
Thursday, October 6, 2011
Nifty --7th October
OK.So as expected in the last post we go up. But now the thing is how high we go . 1st chart below shows some important information .
We close the GAP( shown in ellipse) created a few days back when we reach 4943. Now this pattern that we see marked 1-2-3-4-5, I have actually observed this pattern many times before in other securities as well as in different time frames in NIFTY itself. This is a BEARISH pattern and a BIG FALL should come after point 5 . Now point 5 may touch that upper resistance line or may just manage to cross it . Whatever be the case i don't expect to go too much higher.
Now lets see if we can do some good trade today . I expect NIFTY to touch atleast 4944 by EOD . SO lets take a look at that 1 min chart.
We see the GAP . I have marked Elliot waves . I think we should go LONG at this level. for a TARGET of 4944. 50 points are still a lot. I am also holing my previous LONGS.
TRADE with STRICT STOP LOSSES. And SQUARE OFF before EOD.
No LONGS now. NIFTY looking weak . Its almost EOD. Broken a channel. Todays JOBs data is expected to be WEAK . And according to ZEROHEDGE , all the raly of this week has been of SHORT cvering as SHORT interest was at a very HIGH level. You know what happens after rallies ON short covering .
Going SHORT now. I dont want to miss PROFITS because of GAP down . And I feel MONDAY has a HIGH PROBABILITY of a GAP down . I think 5 waves have ended with a truncated 5th . No Gurantee but its a good point to short.
We close the GAP( shown in ellipse) created a few days back when we reach 4943. Now this pattern that we see marked 1-2-3-4-5, I have actually observed this pattern many times before in other securities as well as in different time frames in NIFTY itself. This is a BEARISH pattern and a BIG FALL should come after point 5 . Now point 5 may touch that upper resistance line or may just manage to cross it . Whatever be the case i don't expect to go too much higher.
Now lets see if we can do some good trade today . I expect NIFTY to touch atleast 4944 by EOD . SO lets take a look at that 1 min chart.
We see the GAP . I have marked Elliot waves . I think we should go LONG at this level. for a TARGET of 4944. 50 points are still a lot. I am also holing my previous LONGS.
TRADE with STRICT STOP LOSSES. And SQUARE OFF before EOD.
No LONGS now. NIFTY looking weak . Its almost EOD. Broken a channel. Todays JOBs data is expected to be WEAK . And according to ZEROHEDGE , all the raly of this week has been of SHORT cvering as SHORT interest was at a very HIGH level. You know what happens after rallies ON short covering .
Going SHORT now. I dont want to miss PROFITS because of GAP down . And I feel MONDAY has a HIGH PROBABILITY of a GAP down . I think 5 waves have ended with a truncated 5th . No Gurantee but its a good point to short.
Nifty .
Forecast for tomorrow. Go LONG . Double bottom . But just a bounce. Not a huge rally . Chart below with the arrows . Resistances at 4820, 4860 and then the BIG one at 4900. I dont think it will cross that .
Another look at the WEEKLY chart to see where the NIFTY is resting . Remember we had broken a LONG standing channel some time ago . I have drawn another parallel line to that channel from the PIVOT point marked X . The nifty has been bouncing at that line for the last couple of times. In-fact there was a BREACH of that line in the last trading day showing signs of weakness. If that support is broken , NIFTY can see much lower levels easily.
Another look at the WEEKLY chart to see where the NIFTY is resting . Remember we had broken a LONG standing channel some time ago . I have drawn another parallel line to that channel from the PIVOT point marked X . The nifty has been bouncing at that line for the last couple of times. In-fact there was a BREACH of that line in the last trading day showing signs of weakness. If that support is broken , NIFTY can see much lower levels easily.
Fake revolutions--Beware
Many of us now know that the RUSSIAN and FRENCH revolutions were STAGED DRAMA by the ILLUMINATI , to advance their GOAL of WORLD GOVERNMENT . The current ARAB spring is no different. Beware of FAKE prophets and FAKE revolutions.
Tuesday, October 4, 2011
Nifty update--5th October
Ok. Got a reversal point yesterday . Bu now not sure how high it can go. Situation is BEARISH. Chart below . 3 resistance levels. Good resistance at 4820..then at 4860, and if we are lucky we will MAY touch 4900.
Smal LONG POSITIN . Wait and watch.
Squared OFF. I am not at all confident of this PULLBACK. . Now I see very good resistance at 4825 level. The bollinger levels are declining still. Not really sure . Now if we look at that chart , it doesnt really feel that 5 wave down has been completed , does it . So entering a small SHORT POSITION here.
VOILA ...Just after I entered the shorts , the markets started going down .
ENJOYED THE SHORTS . I am SQUARING OFF. We can take a risk to enter a small LONG POSITION HERE. Almost near the previous bottoms with OVERSOLD condition.
Targets .........previous resistances 4820..4860...and then 4910.
Smal LONG POSITIN . Wait and watch.
Squared OFF. I am not at all confident of this PULLBACK. . Now I see very good resistance at 4825 level. The bollinger levels are declining still. Not really sure . Now if we look at that chart , it doesnt really feel that 5 wave down has been completed , does it . So entering a small SHORT POSITION here.
VOILA ...Just after I entered the shorts , the markets started going down .
ENJOYED THE SHORTS . I am SQUARING OFF. We can take a risk to enter a small LONG POSITION HERE. Almost near the previous bottoms with OVERSOLD condition.
Targets .........previous resistances 4820..4860...and then 4910.
Monday, October 3, 2011
Nifty update--4th October
This pattern looks like a continuation pattern. MASSIVE MASSIVE resistance at 4910. SO one could enter shorts here . For a target of 4790. As said yesterday , we could hit that parallel channel at around 4800 or go lower to HIT that RED trend line at around 4760. At 4865 , nifty is close to he resistance level 4910, one could take risk . The expanding pattern is being continuously HIT.
To all those who shorted on my advise yesterday ..Congratulations. And to all those who shorted today also , ....................congratulations.
Now look at the below chart . All the short term oscillators are oversold. I think we can enter a BUY NIFTY position here. Remember , the larger trend is BEARISH . So BIGGER short positions , and slightly smaller when going LONG. Will go long here . WIth STRICT stop LOSS.
Remember , MASSIVE RESISTANCE at 4910.
NEWS:
----DEXIA , Belgian BANK, the MOST INSOLVENT BANK in the world, is in news with its share prices down 20%.
----Italy almost 100bps wider than Spain in five-year CDS (482bps vs 389bps,
---- South Korea's vice finance minister says G20 discussing ways to boost liquidity in markets***
To all those who shorted on my advise yesterday ..Congratulations. And to all those who shorted today also , ....................congratulations.
Now look at the below chart . All the short term oscillators are oversold. I think we can enter a BUY NIFTY position here. Remember , the larger trend is BEARISH . So BIGGER short positions , and slightly smaller when going LONG. Will go long here . WIth STRICT stop LOSS.
Remember , MASSIVE RESISTANCE at 4910.
NEWS:
----DEXIA , Belgian BANK, the MOST INSOLVENT BANK in the world, is in news with its share prices down 20%.
----Italy almost 100bps wider than Spain in five-year CDS (482bps vs 389bps,
---- South Korea's vice finance minister says G20 discussing ways to boost liquidity in markets***
Sunday, October 2, 2011
Nifty update
So gap down .And when NIFTY touched 4833, it actually closed the GAP left couple of days back. Technically I would look for a bounce here before a bigger fall. At this point its not possible to tell if we will fall more. So one could put a stop loss at 4833 and go LONG. Targets would be 4920 and 4945. Intraday or may be till tomorrow.
Currently , We watch that channel in 5 minutes.
Got stopped out . Its very difficult to say when in OVERSOLD condition and bearish sentiments and NEWS overflowing , when a bounce will come . Whether we will bounce from here or after going down 40 more points. The best thing offcourse to do is SIT OUT. Or one can take some risk . My last guess for today . That channel could be HIT . At around 4810.
Meanwhile BAD data keeps coming from EUROPE.
---Spanish Manufacturing PMI (Sep) M/M 43.7 vs. Prev. 45.3
---Swiss Retail Sales (Real) (Aug) Y/Y -1.9% vs. Prev. 1.9% (Prev. 2.9%)
---Spain#PMI tracked against INE man. production. Both output and new orders were down at fastest in > 2 yrs
---Swiss Manufacturing PMI (Sep) M/M 48.2 vs. Exp. 50.5 (Prev. 51.7)
Another pattern . Expanding one.
Currently , We watch that channel in 5 minutes.
Got stopped out . Its very difficult to say when in OVERSOLD condition and bearish sentiments and NEWS overflowing , when a bounce will come . Whether we will bounce from here or after going down 40 more points. The best thing offcourse to do is SIT OUT. Or one can take some risk . My last guess for today . That channel could be HIT . At around 4810.
Meanwhile BAD data keeps coming from EUROPE.
---Spanish Manufacturing PMI (Sep) M/M 43.7 vs. Prev. 45.3
---Swiss Retail Sales (Real) (Aug) Y/Y -1.9% vs. Prev. 1.9% (Prev. 2.9%)
---Spain
---Swiss Manufacturing PMI (Sep) M/M 48.2 vs. Exp. 50.5 (Prev. 51.7)
Another pattern . Expanding one.
Saturday, October 1, 2011
CNX IT
The Nifty have been riding this pullback mainly on the back of the IT index. Chart below shows the index is channeling and is now hitting the upper channel line. The upper Bollinger band has also been hit. And it has also retraced 50% of the BIG fall.Divergence is seen in CCI(8). Its striking on the same price resistance for the past 3 days and unable to clear it. Looks like it is coming down soon from these levels.
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