Sensex topping out??

Is wolfe setup ok?

  • Yes

    Votes: 22 75.9%
  • No

    Votes: 2 6.9%
  • Dont know

    Votes: 5 17.2%

  • Total voters
    29
#22
it has nothing to do with wolfe wave, if you look hard enough you'll see wolf's everywhere, just remember that the next time you look at a chart, the reason is the Dow has lost a lot the us indices are deep in the red so are most of europe and latin america, infact on the 4th I was expecting the nifty to lose ground but unexpectedly it gained, just a few asian markets were able to withstand the bearish effect. When most of the world indexes have lost ground how long do you think we would be able to stand our ground? Its well known we're currently the strongest market in the world, even Van Tharp has acknowledged this in his latest news letter, but remember we can't hold out against the world for very long.
I agree that bull markets all over the world have always had parallels and we cant continue with the march all alone.
Further i noticed that there is an evolving h and s pattern in dow 1 year charts but we should also note that dow has always given a 400-500 point rally when ever it has taken support around 12700-12800 ..If that scenario plays out then we will rally more but before that we may face a blood bath tomorrow and recover day after on the back of recovery from dow but an equally probable scenario will be dow breaking the neckline and start tanking from there which would inturn mean more bad news from nifty.. This also means that the recent b/o given by nifty may turn out to be a false b/o.
When i have so many unanswered questions i stay out of the market till the market answers my questions.Lets see!
 
#23
I agree that bull markets all over the world have always had parallels and we cant continue with the march all alone.
Further i noticed that there is an evolving h and s pattern in dow 1 year charts but we should also note that dow has always given a 400-500 point rally when ever it has taken support around 12700-12800 ..If that scenario plays out then we will rally more but before that we may face a blood bath tomorrow and recover day after on the back of recovery from dow but an equally probable scenario will be dow breaking the neckline and start tanking from there which would inturn mean more bad news from nifty.. This also means that the recent b/o given by nifty may turn out to be a false b/o.
When i have so many unanswered questions i stay out of the market till the market answers my questions.Lets see!
Respected sir,
my sense was right (more precisely my luck is with me).
as i hv bought 10 lots of nifty pe 5900@81on friday. cmp-75.
cn u tell me wat shud be right price to sale them.
however mumbai & sharekhan brokers talk frm last wed that market cn see big crash &nifty may see 5900 levels easily in this week.
wats ur opinion?
thanks
 
#24
Respected sir,
my sense was right (more precisely my luck is with me).
as i hv bought 10 lots of nifty pe 5900@81on friday. cmp-75.
cn u tell me wat shud be right price to sale them.
however mumbai & sharekhan brokers talk frm last wed that market cn see big crash &nifty may see 5900 levels easily in this week.
wats ur opinion?
thanks
close half @ opening ( as the market may tank with weak global cues) and hold the remaining with SL as your entry point. Also note there are two likely scenarios either the nifty might take its own course and emerge stronger as the day progresses or it might tank more and more to close at the lowest point of the day..in the second scenario
keep increasing your s/l and if the closing is weak take overnight positions.
In future dont ever take brokers opinion for initiating a trade ... pls do your own research before taking any position.
 
R

robin_malihan

Guest
#25
this seem to be the traping as today nasdaq and dow jons are down that might followed by the world market and i think after this fall market will rebounce on bullish side and that will be our fifth point and most of the people will be traped as these bounce and carry r happening ragularlly ,may be this time it will not be repeated...................


here is a nifty EOD chart from my side also............................
 
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#26
close half @ opening ( as the market may tank with weak global cues) and hold the remaining with SL as your entry point. Also note there are two likely scenarios either the nifty might take its own course and emerge stronger as the day progresses or it might tank more and more to close at the lowest point of the day..in the second scenario
keep increasing your s/l and if the closing is weak take overnight positions.
In future dont ever take brokers opinion for initiating a trade ... pls do your own research before taking any position.
thanks,
fr ur opinion.
 

winstonn

Well-Known Member
#27
Hi,

nifty at upper channel, no serious down trend confirmed, wolfewave still needs to be confirmed......but yes great possibility of deep cut !
 

karthikmarar

Well-Known Member
#29
I agree that bull markets all over the world have always had parallels and we cant continue with the march all alone.
Further i noticed that there is an evolving h and s pattern in dow 1 year charts but we should also note that dow has always given a 400-500 point rally when ever it has taken support around 12700-12800 ..If that scenario plays out then we will rally more but before that we may face a blood bath tomorrow and recover day after on the back of recovery from dow but an equally probable scenario will be dow breaking the neckline and start tanking from there which would inturn mean more bad news from nifty.. This also means that the recent b/o given by nifty may turn out to be a false b/o.
When i have so many unanswered questions i stay out of the market till the market answers my questions.Lets see!
Rajaram

I fully agree with you. Does look like time to be very cautious...

A line from my blog dated 2nd january
I wonder whether we will be seeing some corrections soon…not a big one of course.. Wonder if others are seeing the divergence forming… maybe I am just hallucinating…
I do hope I was really hallucinating...if not ...hope it would be a small one... :)

regards

Karthik
 

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