my system

said fall till friday...lvl of support 4924....market doesnt allow...lvls ...which every one knows..ask any one and every one..knew, that 4917--4924 was support..will market come there ??????plain n simple no..but my system?? catches fast.

NIFTY LVLS TO WATCH IF BELOW 4924

For nifty 4924 is an important support,,below which 4870-4810 zone is crucial.

A note on 5330 tgt::: we have recently seen two big moves on either side..both were a little bit more severe than my expectations.so there are two clear possibilities,,

1. we may have a lower top in place at 5085

2. we may have to see a higher bottom ,for the rally from 4536--5085.

so a higher target is possible, only above 5100 approx.coz. that will confirm a higher bottom.else we may even break 4536 or ,we could be in a small triangle formation,with its two legs already over.

a threat to the higher targets, exists in the probable HEAD & SHOULDER pattern,in sbi as being shown in the chart, here.

correction starts as EXPECTED

I SAID,even earlier as my max tgt would be 5052...bt nifty dragged a bit more..but as i expected yesterday...a correction seems to have set in..watch 4920 first,and i will be updating my lvls to watch and enter long..if entering long would be advisable.

5330 next nifty target..if 4860 holds.

expect a small correction from here,,and if the correction remains mild,upto friday..we will be reaching new highs for nifty around 5330.nifty lvl to watch if any short term correction stsrts is 4860.buy on dips till that lvl holds, should be the trading strategy.

Waiting for clues

The rally can go upto the 78.2% retracement lvl..which for nifty is around 5052....although yesterdays high wasnt TOO far away.........

a look at the intraday structure suggests a possible rising wedge,,,which is supported by a very STEEP trendline,i think such steep trend, suggests a pause to the current rally again.

one should wait for the decisive breach of the trendline.

i will keep patience and wait for atleast a higher bottom to enter long.

SELL CALLS FROM MY SYSTEM ,WORKING ??

Nifty retraced from 61.8% retracement lvl of the entire fall,yesterday.
a breach below 4845...will have tgts of 4812--4792----4750.
this fall ,as there are sell calls on eod charts on many stocks + eod candle reversal patterns on many pivotals........could be a higher bottom, for the rise from 4536 to 4947
or
yesterdays top 4947 could be a lower top.
let us not decide , what it is and better, let markets decide ,what it wants to say.
remember SPEED THRILLS BUT KILLS and ITS BETTER LATE THAN NEVER.

4853 achieved and even crossed

The rally from supports mentioned,here few days back ,is little too strong ,than my expectations,simply put, my imagination or vision has limitations this time around.thats market for me,,,THE SUPER POWER.
We are at cross-roads,,the so called relief rally (a mistake?),,can prove to be something else.
but here again,atleast expect a higher bottom in place (if todays highs are not LOWER TOP,at all)..
so, i will watch 4845 forst tobe broken,than 4774 and than 4753.
all in all,,let the markets decide, what it wants do deliever.

confusing week-end

am doing technical analysis,,and my sole purpose is to predict futuristic moves,essentially i am dealing with probabilities only.
the reason behind describing this is the confusion ,charts are presenting as on today.
1) the sell off was very heavy,in most of the pivotals,but still counters like hdfc,hdfc bank,sterlite,tata motors, tata steel,have witnessed strong supports at lower rates,although,i m not saying that in the first down leg itself ,we can witness sell offs in all counters,but still,the bounce back in these counters was a little bit more to my comfort,looking at the down-side tgts.
2)my system is generating buy calls on weekly charts on some stocks and on the same stocks daily charts,its giving sell calls !!!!,this is indeed confusing.
3)this fall can be a pull-back only to the NECKLINE of weekly bullish inverted h&s
4) but markets cant give a vertical rise,straight away,after such heavy sell offs EVEN IF we are to witness newer highs.

my conclusion is:::we will witness atleast a taste of the recent bottom (may even breach them for a day),,or we may have a higher bottom in place above 4536(a fall will come upto 4650 around approx),and if the fall that i anticipate will be a higher bottom than ,we will have a 3 wave (abc) corrective rise,and than breaching recent lows.
a rising channel possibilities, adds to the confusion.