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| Alert Criteria: Stocks (Any Indian Exchange); Price at least 5.00; Classic Patterns; Bearish; Daily Events; Pattern Duration at least 25 days. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Via Paul Kedrosky, a cool graphic from the WSJ:
India (RBI) has barely cut rates, as compared to the US or UK. No wonder everyone is rushing into Indian gilt (government bond) funds.
SELLReliance Industries Stop Loss 1230 Target 942
SELL Tata Steel Stop Loss 196 Target 158
SELL Unitech Stop Loss 33 Target 24
SELL JSW Steel Stop Loss 235 Target 167
A comparison of world markets presents a larger 4th wave in progress.
There are a few possibilities:
A. We may trade between 2600 to 2850 for one more week before rallying further...
B. We may clear 2860 in a couple of days & move higher.
C. We may head lower down below 2500 to ???? if we break 2630 & close below that..
Presently,
Hourly...Overbought
Daily....Turning up
Weekly...Trying to turn up..
So., Trade with resistances at 2800-2850 (SL 2865 for shorts) AND
Supports at 2750 - 2720 (SL 2640 for Longs)
Take a decisive call above 2860 & Below 2630.
as i said earlier upside rally on 4th december is nothing but the distribution disply........those who are holding shorts can hold it for monday with trailing sl of 2784 spot till our tgt 2510 spot gets achived.......sorry for some panik moments in last 2-3 trading sessions.....kindly co operate me ...... my self trying hard to be closer to the market moove.......thx for being with me.
The markets are interested in participate the trends of the global economy despite of its decoupling nature once in a week to maintain the bottom above 2600 level. The Nifty low made at 2701.35, got well above the strong support at 2673-76 level but it got resistance at 2820, failed to cross the initial resistance at2832-36 level. The previous levels were not breached but the ONGC and ICICI bank are going to play a decisive role to give direction to Nifty.
The continued action in the media stocks rocking the markets as the election results followed big fight for parliament election campaign and the no less viewer eye balls for the terrorist news coverage improved market capitalization to many listed companies by more than 30%.
The techs will recover once the doom period of out-sourcing stand of Obama is clear in regulations & acts until then the range bound will keep shifting day after day.
The skeptics of reality sector got some decent price rise of more than 20% put their wishes in action placed a cap on the up move but the Bulls have hopes on Govt’s stimulus package. The petro rate cut will further ease on the inflation but the transport costs neither decrease due to this cut nor increase the volume.
The RBI package can add considerable impact on the direction of the Nifty, if it favours the Bulls, then the Nifty will cross the 3100 level with out any resistance.
Jeez! This is a weekly chart going back to 200 BC or whatever. Sure, the Anaconda has swallowed 'em up! (But why do you want to spoil our weekends with these graphic images? You are really vindictive, aren't ya?) See the previous post
Where are we going? Down! One more week into this triangle and expect a retest of 25 or 22, it doesn't make a difference; this baby is going down. (The perma bear starts talking again!) Why I'm so bearish? The contraction in volatility gels well with the triangle, and a contraction is followed by an expansion; it's something like a squeeze you know, you just have to wait n watch while the Anaconda tightens its grip, sucking all life outa you. (Jeez!, this is real hard core, do you watch porn movies or what?) For newbies - Volatility doesn't show the direction, but the current global conditions aren't favorable for an upward breakout and so that leaves us with only one thing - a downward breakdown!
There are a few possibilities:
A. We may trade between 2600 to 2850 for one more week before rallying further...
B. We may clear 2860 in a couple of days & move higher.
C. We may head lower down below 2500 to ???? if we break 2630 & close below that..
Presently,
Hourly...Overbought
Daily....Turning up
Weekly...Trying to turn up..
So., Trade with resistances at 2800-2850 (SL 2865 for shorts) AND
Supports at 2750 - 2720 (SL 2640 for Longs)
Take a decisive call above 2860 & Below 2630.
as i said earlier upside rally on 4th december is nothing but the distribution disply........those who are holding shorts can hold it for monday with trailing sl of 2784 spot till our tgt 2510 spot gets achived.......sorry for some panik moments in last 2-3 trading sessions.....kindly co operate me ...... my self trying hard to be closer to the market moove.......thx for being with me.
The markets are interested in participate the trends of the global economy despite of its decoupling nature once in a week to maintain the bottom above 2600 level. The Nifty low made at 2701.35, got well above the strong support at 2673-76 level but it got resistance at 2820, failed to cross the initial resistance at2832-36 level. The previous levels were not breached but the ONGC and ICICI bank are going to play a decisive role to give direction to Nifty.
The continued action in the media stocks rocking the markets as the election results followed big fight for parliament election campaign and the no less viewer eye balls for the terrorist news coverage improved market capitalization to many listed companies by more than 30%.
The techs will recover once the doom period of out-sourcing stand of Obama is clear in regulations & acts until then the range bound will keep shifting day after day.
The skeptics of reality sector got some decent price rise of more than 20% put their wishes in action placed a cap on the up move but the Bulls have hopes on Govt’s stimulus package. The petro rate cut will further ease on the inflation but the transport costs neither decrease due to this cut nor increase the volume.
The RBI package can add considerable impact on the direction of the Nifty, if it favours the Bulls, then the Nifty will cross the 3100 level with out any resistance.
Jeez! This is a weekly chart going back to 200 BC or whatever. Sure, the Anaconda has swallowed 'em up! (But why do you want to spoil our weekends with these graphic images? You are really vindictive, aren't ya?) See the previous post
Where are we going? Down! One more week into this triangle and expect a retest of 25 or 22, it doesn't make a difference; this baby is going down. (The perma bear starts talking again!) Why I'm so bearish? The contraction in volatility gels well with the triangle, and a contraction is followed by an expansion; it's something like a squeeze you know, you just have to wait n watch while the Anaconda tightens its grip, sucking all life outa you. (Jeez!, this is real hard core, do you watch porn movies or what?) For newbies - Volatility doesn't show the direction, but the current global conditions aren't favorable for an upward breakout and so that leaves us with only one thing - a downward breakdown!
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