Monday, May 31, 2010
IF , THE COMING CORRECTION IS NOT FRESH LEG OF A DOWN MOVE..
lets, watch a day or two , very closely.
Sunday, May 30, 2010
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
intraday sell wipro 660 sl 660 tgt 655-652 sl 665 exit shorted wipro at 660 cmp 662
12 05 10
Thursday, May 27, 2010
Wednesday, May 26, 2010
Tuesday, May 25, 2010
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.
Saturday, May 22, 2010
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................
the mail from elliott wave international ,is republished, here.
Friday, May 21, 2010
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:
A few days later -- after considering the probabilities in the market's Elliott wave pattern -- The Short Term Update said:
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.
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
Friday, May 21, 2010
Wednesday, May 19, 2010
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.
Tuesday, May 18, 2010
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.
Monday, May 17, 2010
Sunday, May 16, 2010
IN a few weeks time,,i am coming out with a package of my services,,for fulltime traders, and for a maximum 50 traders.
Friday, May 14, 2010
Friday, May 7, 2010
Thursday, May 13, 2010
Tuesday, May 11, 2010
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...
Friday, May 7, 2010
Thursday, May 6, 2010
Wednesday, May 5, 2010
Tuesday, May 4, 2010
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.