A reader of my blog asked me on my ym bhoom2tika@yahoo.co.in..a few days back.that why a bull now turning in to a bear?It was a nice question..i answered her in just a few words..CHART SPEAKS..
Readers are adviced to please ,take some imp points of last few articles..and have them noted down..i am suggesting this because ,the process of market analysis is a complex one..we get signals of a probable turing point one by one..we face lots of twist and turns mean while.
this time around ..first i put a sensex chart with a big red arrow suggesting a strong resistance zone...now its very important for us to study how markets behave at those areas.
than i came out with one particular level 15600..and i wrote a strong pull back is expected there,,
than i got first hint of a reversal pattern in the form of EXPANDING TRIANGLE in intraday charts..a few days later..i posted 2 charts of indice,, one was of 2008 weekly chart with a rising wedge formed and the other was a daily chart ,where the rising wedge was forming..there i pointed a big red arrow on the down side.
finally i gave levels of 14500 and 4360..as a major trend decider levels,in the mean time yesterday my indicator r-cap, provided me with a big help in deciding on intraday basis that
all supports levels are in danger.
FOR nifty...if 4450-4480 levels are not regained and the weakness started continues till the weekend..than the most important support zone and so target zone lies somewhere in between
3714 and 3900.
all readers are hereby adviced to book profits in all longs,,weather bought for short/med/long term.as in my view there are all chances that they will be able to buy stocks much cheaper.
one must keep 4450-4470 and 4540 nifty levels in mind. for short to med term,any corrective rise ,if at all comes must not go beyond these levels for my expected tgts to come.
1 comment:
so shall we go long if close above 4450-4470 levels? cos 13EMA is 4463 (donno whether i am right) and what is this 4540 level?
And why can't market go up as Big "B" is coming in July and most of the odd years nifty is up only in June and July (sorry no charts but just referred the figures, may be silly question, but just a sentiment thought)
Thanks in advance.
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