good and strong bounce back

A bounce back was expected, but not so strong....if  a correction , which should be due, any day...remains weak, than it will be a very very good opportunity to enter long.

IF , THE COMING CORRECTION IS NOT FRESH LEG OF A DOWN MOVE..

lets, watch a day or two , very closely.

call

06 05 10 
buy atlas cycle above 214 - sl 221 - 10/- up book Profit.

intraday buy zylog 447 - sl 442 -  high 462 book

Sell nifty 5089 strict sl 5096 - 5035 book

07 05 10
sell axis cmp 1197 sl  1209 tgt 1180-1168 positional - axis fut 1180 from 1196  


sell jsw still fut 1132 sl 1140 - jsw 1102

stbt short lic h fin 940

sell nifty 5030 sl 5046 tgt 4975-4873 - 4979 intra book

10 05 10 



intraday buy hcl tech 392 sl 389 tgt 396-399-403 tgt hits 403


buy sesagoa in cash  above 406 sl 402 tgt 410-416 - 414 book


intraday buy wipro cmp 647 sl 644 tgt 651-655 


buy alchemist 187 sl 181 tgt 195-199-203 Delv - tgt hits  214 book 


buy sterlite in cash fut cmp 752 tgt 764-772 in a day or two 

lic h fin 952 from 940  yday STBT call book

buy tata steel above 583 in cash 602 book 

11 05 10

intraday buy shobha 317 strict sl 312 tgt 322-325   -  321 hits

intraday sell wipro 660 sl 660 tgt 655-652 sl 665  exit shorted wipro at 660 cmp 662

12 05 10

Sell rel cap cmp 695 Sl 699 tgt 689-684 

buy tata steel cmp 585 sl 581 book around 591 

13 05 10 

buy shriram fin above 540 sl 535 tgt 549-554  -  tgt hits 558

buy tal walkers above 185 sl 182 tgt 189-193  

buy pnb 1029 in cash sl 1024 in fut 1031 sl 1027 tgt 1036-1043   -   high 1038 book 

buy icsa delv sl 142 tgt 158-163 hold for a week 

buy mahin n mahi fin cmp 429 tgt 438-445-454   -   hits 438 

17 05 10 

intraday buy tata steel 531 sl 527 tgt 536-540   -  both tgt hits. 

18 05 10

intraday buy jet air  sl 524 book at 530- 533 sl triggerd 

buy zylog strict intraday at 474.50 sl 470 tgt 478-583     TgT hits

sell axis fut below 1233 with sl 1238 tgt 1225-1217  

buy atlas cycle at 218 hold for 1-2 days tgt 223-229       Hits 222 

buy n hold glenmark pharma cmp 282 sl 275 tgt 294-299 within a few days

19 05 10

Sell icici bank 848 with sl 853    -  842 book 

jsw hit 1063 from 1080 

Sell axis  1205   -   1190 book

Positional traders can short HDFC at 2680 with sl 2703 tgt 2650-2622

stbt short jsw fut at 1080 tgt 1068-1061   Tgt his 1163

20 05 10 

Hdfc hits tgt book profit   from 2680 to 2654  

book full profit in ydays jsw givn at 1080 

intraday buy tata steel sl 514 cmp 515.50 tgt 521-526 EXIT 

buy wipro cmp 655 sl 650 tgt 661-667 EXIT 

Axis on fire book half profit 1225 from 1212 

Sell positional

 nifty 4943 sell positional, with strict sl 4964       -  intra 4922 book

btst ,buy voltas cmp 178..sl 174..tgt 185--189--194 intra 181 high

btst buy lic h fin sl 950 cmp 958 tgt 968-974 

21 05 10

close positional short nifty,given at 4943 yday,,,tgts 4873--4833 to hit 

positional short nifty gives 80 points,

btst voltas only 2 rs down, book loss or sl 174 

buy acc in cash cmp 852 sl 848 tgt 859-864 

pure del base buy sesa goa cmp 341..tgt 349-356 sl 330 

buy rel cap cmp 836 tgt 843 sl 832 

buy n hold icici bank 

btst buy tata steel tata motors axis and icici book tomorrow 

25 05 10

intraday sell cipla cmp 312 sl 315 tgt 308-306 

sell tata motors cmp 688  sl 691 - tata mot low 684.60         now 691 cover short 

sell mahindra 525 sl 528        - 518 book 

STBT short hdfc and icici bank 

26 05 10

buy siemens cmp 678 sl 673 tgt 685-689 EXIT 2/- loss  

piramal health care cmp 511 Buy above 514 with sl 510 - piramal jumps to 537.50 today  

btst buy sesa goa 326 tgt 339-344  sl 320 

BTST buy piramal health 533   sl 527 tgt 546  

27 05 10

sell nifty at 4945 with sl at 4956. n target 4920 EXIT 

buy tata mot cmp 716 tgt 723-728 sl 712  tgt hits

buy sterlite at 635 sl 631 tgt 642-648   tgt hits  645 book

buy talwalker at 171 sl 168 tgt 175--179 

buy engg india IF CROSSES 327 , CMP 324 WITH SL 322 TGT 331-335  

BTST BUY , ICICI AND TATA STEEL 

BUY N HOLD BAJA  FIN  449  

28 05 10

buy n hold fdc, cmp 92...tgt 96-99-103 sl 89 

buy rel infra cmp 1064, sl 1060 tgt 1069-1064  

buy shriram tran cmp 564 sl 560 tgt 570-574...if closes abo 576...tgt 583 EXIT

buy n hold icici at 949 sl 941

NIFTY : IN CHANNEL

SUPPORTS --- CHANNEL WORKS

SO, here is the market.taking support at level which was a clear target...and channel support.

When i started to say A TOP , budget rally ends ,,their must be very few who believed me.there was no media hype , as the channel experts were, claiming higher targets only.

A few days panic ,,,a strong close below,, 200 dma, and everyone in media/ channel starts talking 4500 and more on the down side.

E very one knows ,lower levels ..market immediately tries to prove them wrong.

up move is gathering momentum. as i said in morning...watch 5023/5091 and 5146/5180.

also , this rally should go up in 3 legs. two up and one down. so tomorrow and for monday 5091 looks tobe a critical resistance to watch.

WATCH 4676 :: IF COMES !!!

As shown on sensex===nifty charts yesterday, the weekly channel that i was presenting here since,almost a month..was broken on nifty but was nicely held on sensex chart.

DO, remember that these are weekly charts, so the clear indication will be on friday.till than, its working as supports. and the 4833 level was broken on tuesdays panic, but recaptured quickly at wednesdays open.

so, expect a sideways phase, with mild positive bias (which can easily prove tobe a sideways distribution, instead of consolidation)...from extremely oversold daily--weekly charts.

5023 and 5146, two are major lvls to watch, as of now, if upside gathers any momentum.

BEARS SPREAD THEIR WINGS

Market tanks spooked by German short-sale ban

Greece crisis likely to impact FII inflow: ING Vysya

Greece debt crisis could spur capital flows to India

Greece: EU may go to IMF, after all

FIIs sell shares worth Rs 1,589 cr

the hindu businessline 25th april 2010.

ABOVE WERE THE HEADLINES IN THE HINDU B LINE, yesterday evening.

i had clearly said on 8th april that a top has been made at 5399,,than on 17th april i said that the budget rally has ended,than many times after that, i had suggeste lower targets for nifty and also warned that their will be panic below 5146,,,yesterday their was MAXIMUM PANIC, WHEN nifty touched mt target of 4833.

and ,such bad news becomes headlines.this is what i always say, charts speaks first----news follows after that.

by nature, i am bullish. i do firmly believe in THE INDIA GROWTH STORY.BUT an analyst must learn to LISTEN ,what chart says.AS the saying goes, there always is bear market in a bull market. and there is always a bull market in a bear market.......what does this points to ???

it means that, even if a market is strongly bullish,,there will be corrective fall and vice versa.

my job is to find out, such corrections , so that they can be used as an ENTRY POINT, and also to find out, the possible start of a correction. so that traders can be stopped to buy and advised to wait, to find entry points.

THE problem here is, that there is a very little difference, in a normal correction and THE new move in the opposite direction.

if we discuss this , in perspective of our markets, i have been clearly warning of a big correction, from around 5350.and around 5210, i had given a clear target of 5132, 5022, and 4875. and than below 5146--5080 i had EXTENDED my target upto 4832. now untill this point ( with the use of a very good trading system, we have generated some very good successful buy calls too,that is a different point though)....the around 8% fall in nifty from 5399 to 4795..looks to be a CORRECTION,AS PER ANORMAL TECHNICAL ANALYSYS RULES.

but, it looks different this time.

THIS FALL can well be just the first leg of a larger bear market, which can last for a little longer.

but from within 50-100 nifty points we can again expect a bounce back,,which should be A LOWER TOP ON WEEKLY CHARTS.

I AM ATTACHING A FEW CHARTS OF SOME LEADING COMPANIES, which shows, that supports have been broken in many of leaders.

in a few days,, after looking at all charts, and looking at strength of the pull-back rally,,i will give you resistance lvels for major stocks and nifty.

NIFTY : hits target 4833,,even breaches important support

From around april 17th,,i have kept mentioning that, with compared to prior three mahor sell-offs, in past almost one year,,this coming fall looks to be DIFFERENT.
My nifty target was 4833..it was decisively breached today on the closing basis,,and each passing day and with each new down move,, downside participation is increasing.
the BUY AT DIPS syndrome is converting itself into SELL AT EVERY RISE.
PRE BUDGET low 4676 is now MOST IMPORTANT LEVEL TO WATCH.

A FREE NEWS LETTER FROM : ELLIOTWAVE-INTERNATIONAL -USA

RALPH NELSON ELLIOTT...A GENIOUS PERSON...HE WAS , WHO PRESENTED THE FAMOUS AND MYSTERIOUS ELiLOTT WAVE THEORY TO THE WORLD. WAY BACK IN 1995, WHEN I GOT A FEW VERY VERY INTERESTING BOOKS FROM ELLIOTT WAVE INTERNATIONAL , THROUGH MY FRIEND IN USA.(I STILL HAVE THE COURIER COVER)..I JUST FELT IN LOVE WITH THE THEORY AND MORE IMPORTANTLY WITH THE SUBJECT ,TECHNICAL ANALYSIS.THE INTEREST AND THE CURIOCITY, AND THE EXCITEMENT THAT ,THOSE BOOKS CREATED IN MY INNER SELF, PROVED TO BE IMMENSLY MOTIVATING FACTOR FOR ME TO STICK TO THE SUBJECT,,AND TO GO DEEPER AND DEEPER INTO THE COMPLEXITY OF THE SUBJECT, AND TO BE ALWAYS INNOVATIVE AND FLEXIBLE. YESTERDAY, I RECEIVED AN E-MAIL FROM ELLIOTTWAVE INTERNATIONAL,,WHICH CLAIMS THAT MR. ROBERT PRECHTER--(the founder of the elloittwave international,and the MASTER of the theory)..has predicted the great crash from late 2007,,,than the recovery from march-2009,, and the latest fall from 23rd april. FINE,,JUST A REQUEST TO MY READERS... JUST , go through my past articles (jan-2008,,oct-2008,,nove -2008, march 2009,april 7-17-2010),,without the great elliott wave theory, i have predicted all BIG moves, a little bit in advance, to most of others................ jai sainath. the mail from elliott wave international ,is republished, here. Friday, May 21, 2010
Greetings Bhavesh,
I often write to say that "news" and news "events" do not drive stock market trends. And I usually make that point at a time like this: stock indexes are down 10% in the past three weeks, and the media is brimming with "reasons" why (Greece, unemployment, financial reform, etc.). Yet this email to you will be different -- I'd like to briefly discuss what does drive stock market trends. Put simply, the "trend" reflects the collective mood of market participants. A positive mood sends prices up, a negative mood sends them down. That is why it's crucial to recognize the dominant (or long-term) mood, since THAT is what drives the trend on a scale usually measured in years. It's equally important to identify a major turn in the trend -- such as the stock market reversal in October 2007. Once you know the direction of the dominant trend, "countertrend" moves become the major challenge. These are more near term. Bob Prechter identified the Oct. 2007 peak for what it was, buthe also anticipated the start of the countertrend rally in March 2009. Instead of rear-view-mirror descriptions, he provided authentic forecasts to subscribers. More recently, we've warned subscribers that sentiment had reached feverish extremes: stock market prices reflected too much optimism backed by too little evidence. Once again, Bob Prechter's Elliott Wave Theorist spelled it out via his two-issue series, "A Deadly Bearish Big Picture." And just one trading session before the April 26 high, here's what The Short Term Update said to subscribers: " ... it is not a low-risk environment to own the market. On the contrary; the market is presenting investors with a great opportunity to take whatever one has recovered in their portfolios from the 2007-2009 crash, and cash out to safety." (4/23/2010) A few days later -- after considering the probabilities in the market's Elliott wave pattern -- The Short Term Update said: "Stocks should fall further. Today's ... decline indicates that the bears control the market's near-term trend ..." (4/30/2010) This commentary puts the 10% decline in context. The Short Term Update's various charts and other technical indicators offered the even deeper context for subscribers. This forecast did NOT include any of the "reasons" which showed up in subsequent media reports. The countertrend rally had been unfolding for months, and our analysis of that rally was based on what we saw in the Elliott wave pattern. You can see that pattern for yourself within minutes. Follow this link to get started. Regards, Robert Folsom Elliott Wave International To inquire about this email by phone, please call EWI Customer Service at 800-336-1618 (U.S. & Canada) or 770-536-0309 (Internationally) and mention code: FFS99-EMC

a bounce back EXACTLY from SUPPORTS

Yesterday, itself , i wrote here,,that from my support zone of 4833--4873, a trader must be careful in shorts, as there will be a bounce back.

Nifty touched 4851 in the morning panic, ( and i passed my message to cover shorts from our positional short nifty message)..soon slow but steady recovery started.

markets failed t0 close in positive, but still it looks tobe a smart recovery, as expected from my supports.

NIFTY TARGEtS ACHIEVED

Nifty today morning makes a low of 4851...my targets were 4873---4833..the job has been done successfully..hope my readers have been benefited.

for my services .add bhoom2tika in ym, and enjoy great calls.

TARGETS ALMOST DONE !!!!!

I started learning technicals,way back in 1995.in the initial phase ,i was amazed by the miracle like things..to predict markets from charts !!..i thought it would be EASY,, the way i was tought, the way the importance of an oversold rsi/ roc was presented,, it was joyfull to think, that we have to buy when it reaches 30 and sell when it goes above 70 !!!! ..it looked so easy ..than , when i learned the ma cross-overs, i was just amazed,by the accuracy of cross-over signals, from the charts that were presented in seminar.i never knew that lots of charts with whipsaw signals, were not shown to us .
than, the most interesting part of my early years learning life came, when i learned fibonacci.it was just wonderful..and it is still that much wonderful.the most powerful tool,that i have been using even on 1 minute nifty chart, is fibonacci ratios.
i still remember those days ,when i went to sea BEACH ,to measure the length of sea-waves,that come and go by.i than calucalted the difference of length of different waves, and tried to find out fibonacci ratios, in them.in those early days,,it was rather seemingly easy to find out, major up or down moves, when the markets were TRENDING..in one direction.

BUT, the major issue was to save ourselves from whipsaws,in a sideways move.and the fact is that atleast 30-40% of times ,markets remain choppy / sideways / rangebound.

LIKE, OUR broader markets are, for almost whole year now.

but, the turning point in my life as an analyst, came in 2003-4, when i started to combine MULTI-TIME FRAME charts. there i found clues to avoid whipsaws,, i learned FLEXIBILITY.

and ,THAT is the reason , i had successfully picked up almost all nifty moves, EVEN in THIS CHOPPY markets.

yesterdays nifty low was 4901, my targets / support ,given here from around 7-17th april, are 4873-4833..so be careful in shorts over here.

i expect a bounce back from these area.

A CORRECTION ? OR DISTRIBUTION ?

As i described the other day,and as clearly visible on this line chart,we have seen four heavy sell-offs ,starting from june-2009,,all were seemingly digested,and indices continued to make new highs.

Although as i mentioned in one of my early april-10, article that,each time nifty made a new high, but the latest high was just 100-150 nifty points,each time.and that OBSERVATION was the key ,when i said one upper target is 5398.i clearly said it would be very interesting to see what nifty does at 5398.than on 7th april nifty made high of 5399,and next day ,i said its a top.

In my opinion,in last one year,there is a big big long term portfolio churning have been done ,by big players.

AS i mentioned here , a few days back, that this fourth sell-off is looking different.nifty took support at 200day ma in jan-10 sell off, and even a few days back, it took support at that average.

BUT, the bounce back ,doesnt seem tobe too strong this time.it was larsen--sbi show.

stocks like wipro-tcs,,tata motors-maruti,,sterlite-tata steel,,continued to witness, heavy selling on EVERY RISE.

For sensex the low on 17th was near about 200 dema and was exact 61.8% of the last rise, started pre-budget.

NOW ,a weak rise from such an important levels(average+fibonacci),,can be dangerous.if the support DOESNT work than, results can be devastating.

FOR any upside, sensex must produce a weekly close above 17400, nifty above 5213.

IF not, the whole phase of last several months will turn out tobe a ROUNDING TOP and thus a distribution phase.

CRUCIAL JUNCTURE FOR OUR MARKETS

hi, all.
just presenting a chart of nifty.as i feel our market is at a VERY VERY crucial stage.though technical,i would like to explain THE STAGE in common ,understandable language.
markets generally run through CYCLES. we have seen a BIG upward cycle from 2003--2007. this up ward cycle was at its pick in jan-2008.there after a BEARISH CYCLE started. it seems that ,bear period had ended in march-2009. but its not 100% true.

IF the bearish trend started in jan-2008..has actually ended, than we may cross 5213 in nifty soon, and than ,we will march forward to may be 5500--5900 or even newer highs.we need a weekly CLOSE above 5213 for this to happen.

BUT , if the correction that started in jan-2008, hasnt yet ended, than it CAN develop in a tringle over 2008--2012(approx.),,in that case, we may have started THE SECOND leg of the entire corrective TRIANGLE.(SEE TH ATTACHED IMAGE).

in that case, 4833 is the most important level for nifty and 15160 is the most important level for sensex.more importantly the two CHANNELS drawn on nifty chart,will play an important role.

NIFTY CHANNEL

NIFTY decisive level on the upside 5213, and 4989--4873--4833 on the down side.

A MECHANISED TRADING SYSTEM HELPS

NIFTY : ON THE VERGE OF A BREAK-DOWN

JUNE-2009,OCT-2009,JAN-2010 and the latest one from 7th april-2010..our markets have seen ,severe selling pressure in these months in last year.

till now, markets recovered sharply up.

BUT, as i have been arguing since a month,,that this time it looks different. watch 4873--4833 and my channel, this weak.

WEAK STOCKS AND MY SYSTEM

I have been writing my blog since jan-2008.....i have always tried to help small traders---investors, whenever i have found a major move coming.

though ,its a free blog, some readers post comments..lke .." why am i trying to advertise my trading system ??"...some readers even put comments like "" why , i am trying do self appraisal ??"....i must admit though that, such readers are very very negligible in nos.,,and there are a lot of admirers of my innovative and advanced ta techniques.

but, i am writing this ,just inform such critics, that, my system or my analysis,is NOT , borrowed or hired one,,its the result of sainath's grace, that he made me work hard over a lllllllong period of time.

so, whenever i write, in TONE that ,,look i said this on so n so date....its just to share my joy..there is a very very thin line between ARROGANCE and PRIDE...

AND know better than anyone else, that i will be out of the analyitical world, if i cross the line and become arrogant.so i love and enjoy only in FOLLOWING markets.

ANYWAYS,,,critics are always welcome,to improve myself.

on friday, i suggested a few stocks tobe very weak.

here are charts of a few of them..with my systems calls on 5 minute charts.

IN a few weeks time,,i am coming out with a package of my services,,for fulltime traders, and for a maximum 50 traders.

which will include.

1)my trading system ,with realtime charts/ live signals

2)my intraday calls for stocks/stock futures/nifty/bank nifty/nifty options

3)positional calls for stock futures/ nifty/ banknifty

4)short term delievery based calls..which can give approx 10%return within 10-15 days.

5)med/long term investment calls

6)penny stocks recommendations

7)gold/silver/crude intraday/positional calls( my trading sytem can generate rt calls on gold/silver/crude too.

8)inr/usd analysis and positional calls.

+++

9)a weekly analysis of nifty, which will include support-resistance levels for major pivotals.

all these service in a SINGLE PACKAGE, AT ONE TIME YEARLY FEE.

FOR further information: add bhoom2tika in ym..or mail at bjnaik@twist4nifty.com

ON TRACK YET AGAIN

THIS IS WHAT I WROTE HERE...ON...7TH MAY 2010...

Friday, May 7, 2010

Nifty just misses My Target.

From 5360 around....almost AT the top,,,i said its a top..within a few days only ,i said a target of 4950 possible.

offcourse,as usual there were supports, but to my clients, once 5307 was broken, i clearly passed on my target...5122---4950----4875.

on 17th ,i said here that the budget rally has ended.,,the rise came there after was just a LOWER TOP.Once 5261 got cracked...my targets were due.

i also mentioned about weakness in icici below 964..i think that worked ,nicely.my maruti targets were done too,

A CHANNEL support,, and some days sideways moves..and than start of fresh selling and we may get 4850 soon too.

for the upside ,i will keep updating for my readers.

interested readers of my services can add bhoom2tika in ym.

I AM HIGHLIGHTING,ONLY ONE SENTENCE OUT OF MY POST ON 7TH MAY 2010.

::A CHANNEL support,, and some days sideways moves..and than start of fresh selling and we may get 4850 soon too."""

A FULL WEAK PASSED ON..AFTER MONDAYS STRONG UPMOVE..IN BROADLY A SIDEWAYS MOVE.AND TODAY MORNING I SAID THAT 5146 WILL BE THE TREND DECIDER LEVEL...ITS GONE IN THE AFTERNOON...AND THERE WAS A VIRTUAL HAVOC IN THE MARKET BULLS...STOCKS SUGGESTED AS WEAKEST IN THE MORNING,,TUMBLED UPTO AROUND 5% TODAY ITSELF.

CRUCIAL WEEK-END

Yesterday,,i mentioned 5146 as the trend decider level in the morning,,,its the figure derived at, with the use of my new indicator,,which auto-generates pivot levels, on real time charts,on any time frame.

I said a few days back that...."" a channel support and few days sideways move, and than we may see selling pressure to resume "".........MONDAYS strong move was quite surprising, and i thought, i may prove right only upto the CHANNEL SUPPORT ,indication..but the three days passed on , without any clear indication of direction...as expected.

As i woke up early,today..i found asia opening qute low.could be a trigger for the sell-off i expect.

A STRONG CLOSE above 5218 can negate, this down move possibilites....but a close below 5146---5080 will really play havoc in the markets.

stocks like tata steel,,siemens,abb,aban,dlf,,rel-cap,sesa goa,,sterlite are looking very week on daily charts.

5080 gone and perhaps 4976 wouldnt help.

WATCH 5146

5146 will decide the trend for next 2-3 weeks. a strong and sustained move below 5146..will make bulls, panic. and any dip till this lvl is a buying opportunity.

NIFTY ::: STRUGGLES BETWEEN TWO EXTREMES

Nifty,,struggled NOT in between levels ,but in between two extremes of human psychology.first, it was extreme FEAR..Till friday,,europe was creating heavy panic...and overnight announcement of huge bail-out by eu--imf ..suddenly HOPE became the factor,,and markets worldwide turned overly bullish...

Technicals had all the answers. FIRST it was the EXPANDING structure at the top,,and than channel support at an important fibonacci level...

I am just posting a nifty chart, which is NOT updated. its the one ,which i posted here ,on 17th april. just go through the comments posted on that day.

Nifty Support

Nifty just misses My Target.

From 5360 around....almost AT the top,,,i said its a top..within a few days only ,i said a target of 4950 possible.

offcourse,as usual there were supports, but to my clients, once 5307 was broken, i clearly passed on my target...5122---4950----4875.

on 17th ,i said here that the budget rally has ended.,,the rise came there after was just a LOWER TOP.Once 5261 got cracked...my targets were due.

i also mentioned about weakness in icici below 964..i think that worked ,nicely.my maruti targets were done too,

A CHANNEL support,, and some days sideways moves..and than start of fresh selling and we may get 4850 soon too.

for the upside ,i will keep updating for my readers.

interested readers of my services can add bhoom2tika in ym.

MY TARGETS COMING SOON.

5050 worked

Nifty took support at 5052, yesterday,,which was my support,,,another level i found was 5135...so

to my clients,,my message today at 5080 was to sell with target of 5052---5035..nifty hit 5025 and bounced back.

Todays closing looks,,,positive as it has taken support from lows,,but looking at intraday structure,i think its NOT positive...another crack below 5052 and,,it will be distribution phase.

unless nifty closes above 5146... my lower targets of 4950--4875 are open.

TWIST N TURN OF NIFTY AND ME

People have been asking me, why didnt i updated my blog in the past 2 weeks....i replied to them, that though nifty bounced back from around 5161..i didnt see any change in my views, of a TOP in place.

doing technical analysis, and trying to catch every TWIST N TURN of nifty, is a job , that i just love to do...its a great fun, enjoyment, job satisfaction,,,,and above all its a quite serious stuff !!!!!

if my readers take time, and go through past articles..(more than 30 months now !!!!),,i have done a job , that satisfies any follower,,any trader, or any investor.if someone just follows me,,he/she can easily earn some serious money trading nifty.i have been able to catch each and every 100 or more points move of nifty.

through my last 5-6 posts...since i had given 5398 as nifty target...i have taken my readers through the topping pattern, very smoothly.its been a process,,it is a serious job...............

There are suggestions that,i have to jon twitter/facebook..thinking seriously...but busy in developing my new system these days,,which is going tobe a traders dream system.

interested readers can add me bhoom2tika in ym

A big break down

on 17th ,i wrote that the post budget rally has ended...one of my support was 5178,,nifty bounced back from 5161...but this time the bounce back was only A LOWER TOP.

A decisive break has happened today.5112----5051----4873 are possible supports---targets.

watch my systems calls today, on a few charts.