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| Discuss Bearish Gartley on Nifty at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by Czar this is the 8th straight up month for the sensex.... maybe ... |
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#21
7th January 2007, 01:30 PM
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Re: Bearish Gartley on Nifty
Quote:
We are sitting on a double top that has a mininum downside till 11500-11600. However there are some differences in the present scenario with John Magee's classic interpretation of a double-top pattern. Also the (long) leveraging is far too low (& the mood far too cautious) for any 'bear raid' to generate windfalls at this stage. So instead of a deep decline what we may have is a series of smaller, extended minor kind of corrections. Swagat's fib retracement levels for the Gartley also suggest the same. A lot will depend on the third qtr results. Hedge funds are moving out of industrial commodities sensing a global slowdown in 07 So these stocks along with Banking will be good shorting candidates during a fall. Any other ideas?? In any case all we can do for now is tighten those stop losses and remain as alert as we can. Regards, Kalyan. Last edited by kkseal; 7th January 2007 at 08:12 PM. 
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#22
8th January 2007, 12:34 PM
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Re: Bearish Gartley on Nifty
frnds still b careful, correction may not b over. careful. keep tight stop and take profits..
And keep watchin this thread for more updates. regards
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#23
9th January 2007, 12:21 AM
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Re: Bearish Gartley on Nifty
Another update. still a downside to 3893 can be seen. that makes another 40 pts. A major support there, break will take to 3854. Wat u say frnds???
Iv updated two more charts. ty
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#24
9th January 2007, 01:30 AM
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Re: Bearish Gartley on Nifty
Quote:
look more from u..YE DIL MAGE MORE...!!! Jay
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#26
9th January 2007, 04:46 PM
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Re: Bearish Gartley on Nifty
hi swagat,
Keep on posting all Gartleys , bullish and bearish!!!!! great work!!!!! On weekly charts of nifty , ascending triangle is in progress , wht r ur views regarding that???? thanxs winston.
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#27
9th January 2007, 07:32 PM
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Re: Bearish Gartley on Nifty
Quote:
Thanks Quote:
And thanks for All those Kind words. It only brings a smile on my face and encourages me to work harder. Todays Low was 3890. Just below 3893 as stated by me on my previous chart and post. More will be coming soon.... Thanks Regards
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#28
10th January 2007, 01:23 AM
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Re: Bearish Gartley on Nifty
Indusind Bank Gartley on weekly,it formed gartley last week. Bad luck. missed it its already down from 58 last week to 52.30.
anyways the target is 50 on weekly so still about 4% to be made. Conservative traders can still wait. And Sell on COnfirmation. Thanks
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#30
10th January 2007, 04:44 PM
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Re: Bearish Gartley on Nifty
nope 3854 breached on closing basis, some pull back expected on friday i guess or from thu late, dead cat bounce ? remember guys this is not India specific but the world seeming to peak, anyways 5 straight down days, lets see when it bounces, thing is this fall is worst than the 500/p.day fall last month cause people are being trapped due to gradual fall, correct me but i heard on this forum somewhere the E.wave 5 fall is gradual ?
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