Technical review for the week ended 25-03-2011 :
The sideways phase was anticipated very clearly almost a month ago and then we were in confusion that weather this phase is a distribution phase or an accumulation phase we categorically said early last week that next 2-3 days will decide the future of markets for the month of april and VERY NEXT day after this comment markets started to go in one direction and as our levels for the BREAKDOWN were intact and both sensex and nifty crossed their immediate RESISTANCE levels and that too with gap up opening we made it sure that our readers does not miss the rally as we started to generate plenty of calls all of them which were on the buy side.
Predicting stock market using pure technicals is all about timing we were among firsts to rang the warning bell well in advance of the big crash started in early November 2010 a few times around that time we said that it is a time to be in cash by more than 70% and individual stocks value erosion there after was very severe and now early last we categorically said that the sideways phase is on the verge of a break and the break came once nifty and sensex closed above 5483 and 18259 respectively.
View for the coming week :
The gaps in sensex just above 18206 and above 18374 will play most important role in the future for a few weeks to a few months sensex will be strongly supported near the first gap for the short term so any correction up to around 18374 should prove to be a very very good buying opportunity for an upside target of 19200 first and then 19649 in a few weeks time as we strongly feel that one MAJOR leg of crash from November 2010 high to February 2011 low has now ended and this whole leg is being corrected.
For nifty THE SECOND GAPPED AREA BETWEEN 5529 AND 5588 HAS NOW BECOME AN IMPORTANT SUPPORT and the first gapped area between 5484 and 5501 is the next most important support and for any further down ward correction nifty will have to close these two gaps but as of now any correction up to these gaps will be an ideal buying opportunity.
And after any such slow corrections nifty has the potential targets are 5758 and 5798 and if the upside momentum remains intact and if at the END of this month nifty or sensex or some major stocks can produce monthly reversal candle patterns then we may have nifty target of around 5966 in coming weeks.
The sideways phase was anticipated very clearly almost a month ago and then we were in confusion that weather this phase is a distribution phase or an accumulation phase we categorically said early last week that next 2-3 days will decide the future of markets for the month of april and VERY NEXT day after this comment markets started to go in one direction and as our levels for the BREAKDOWN were intact and both sensex and nifty crossed their immediate RESISTANCE levels and that too with gap up opening we made it sure that our readers does not miss the rally as we started to generate plenty of calls all of them which were on the buy side.
Predicting stock market using pure technicals is all about timing we were among firsts to rang the warning bell well in advance of the big crash started in early November 2010 a few times around that time we said that it is a time to be in cash by more than 70% and individual stocks value erosion there after was very severe and now early last we categorically said that the sideways phase is on the verge of a break and the break came once nifty and sensex closed above 5483 and 18259 respectively.
View for the coming week :
The gaps in sensex just above 18206 and above 18374 will play most important role in the future for a few weeks to a few months sensex will be strongly supported near the first gap for the short term so any correction up to around 18374 should prove to be a very very good buying opportunity for an upside target of 19200 first and then 19649 in a few weeks time as we strongly feel that one MAJOR leg of crash from November 2010 high to February 2011 low has now ended and this whole leg is being corrected.
For nifty THE SECOND GAPPED AREA BETWEEN 5529 AND 5588 HAS NOW BECOME AN IMPORTANT SUPPORT and the first gapped area between 5484 and 5501 is the next most important support and for any further down ward correction nifty will have to close these two gaps but as of now any correction up to these gaps will be an ideal buying opportunity.
And after any such slow corrections nifty has the potential targets are 5758 and 5798 and if the upside momentum remains intact and if at the END of this month nifty or sensex or some major stocks can produce monthly reversal candle patterns then we may have nifty target of around 5966 in coming weeks.
No comments:
Post a Comment