Bulls Ready to Ride

swagat86 · #1 18th January 2007, 10:40 AM

NIce early mornin rally. Close above 4110 can be considered bullish. Target 4300.

Views?????

Czar · #2 18th January 2007, 01:07 PM

it does not count if ongc contributes most of the points...lol

kkseal · #3 19th January 2007, 07:33 PM

Agree with the heading of the thread. Might reach 15000 before mth end.

The only concern is the RSI. That's still not keeping pace.

Regards,
Kalyan.

swagat86 · #4 20th January 2007, 11:20 AM

Quote:

Originally Posted by kkseal

Agree with the heading of the thread. Might reach 15000 before mth end.

The only concern is the RSI. That's still not keeping pace.

Regards,
Kalyan.

HI KAlyan,

Sory to say this but im turning bearish again

For monday im lookin at 4047 and 4022.

Thanx

kkseal · #5 20th January 2007, 03:17 PM

Quote:

Originally Posted by swagat86

HI KAlyan,

Sory to say this but im turning bearish again

For monday im lookin at 4047 and 4022.

Thanx

You mean short term? Or are you expecting a deep correction? Any particular reason for it? Anything you might having spotted? (you have a tremendous eye!

)

Regards,
Kalyan.

swagat86 · #6 20th January 2007, 07:52 PM

Quote:

Originally Posted by kkseal

You mean short term? Or are you expecting a deep correction? Any particular reason for it? Anything you might having spotted? (you have a tremendous eye!

)

Regards,
Kalyan.

THanks for the compliment. Yes short term.
BUt As many of many frnds hav pointed out to me this may be Wolfe wave in makin thats a dangerous sign v can even go back to 3800. I that case it may be intermediate.

For 2 moro if the wekness continues it will definitely Tank. Last two days candlesticks show that.

Thanks

kkseal · #7 21st January 2007, 04:31 AM

Quote:

Originally Posted by swagat86

THanks for the compliment. Yes short term.
BUt As many of many frnds hav pointed out to me this may be Wolfe wave in makin thats a dangerous sign v can even go back to 3800. I that case it may be intermediate.

For 2 moro if the wekness continues it will definitely Tank. Last two days candlesticks show that.

Thanks

Yeah, CS does look a bit bearish. On the positive side though we did manage to survive last wks Hanging Man & even managed to close in the green (thanks to the +ve news flow!).
I'm more concerned with the RSI. That one has to move up & fast or more weakness will set in.

Regards,
Kalyan.

kkseal · #8 21st January 2007, 07:10 AM

Hi Swagat,

Glad you mentioned the Wolfe Wave. Another thing i learned thanks to you.

From what i gather of the (Bearish) WW, it's a kind of giant 5-pt rising wedge, with a much bigger range than the normal Rising wedge variety.

The pattern seems to have begun on the Sensex since Dec 06 when we had a high of 14040 (pt 1). Pt 3 (Jan 4 top of 14060) was slightly higher than pt 1 and pt 4 (13303), the 2nd bottom, is higher than pt 2 (12801) the first bottom.
As it usually follows time symmetry should take a week or so to complete and has a downside till around 13000 (from the line joining 1-4, as of now - more sideways movement will increase the downside projection).

Don't know much about the volume pattern though. Volumes were lower than avg from pts 1 to 3 but have started rising since then (from the 2nd peak) Is that the usual pattern??

Please correct me if my understanding is wrong & keep posting as & when you get more clues/confirmations.

Regards,
Kalyan.

swagat86 · #9 21st January 2007, 10:13 AM

Quote:

Originally Posted by kkseal

Hi Swagat,

Glad you mentioned the Woulf Wave. Another thing i learned thanks to you.

From what i gather of the (Bearish) WW, it's a kind of giant 5-pt rising wedge, with a much bigger range than the normal Rising wedge variety.

The pattern seems to have begun on the Sensex since Dec 06 when we had a high of 14040 (pt 1). Pt 3 (Jan 4 top of 14060) was slightly higher than pt 1 and pt 4 (13303), the 2nd bottom, is higher than pt 2 (12801) the first bottom.
As it usually follows time symmetry should take a week or so to complete and has a downside till around 13000 (from the line joining 1-4, as of now - more sideways movement will increase the downside projection).

Don't know much about the volume pattern though. Volumes were lower than avg from pts 1 to 3 but have started rising since then (from the 2nd peak) Is that the usual pattern??

Please correct me if my understanding is wrong & keep posting as & when you get more clues/confirmations.

Regards,
Kalyan.

I havnt looked lately on volume. Will definitely keep posting on more informations. Ur ryt about WOlfe wave. Lets c wats up next.

RSI · #10 21st January 2007, 12:57 PM

Hi Kalyan and Swagat,
Are you sure that it is a Wolfe Wave? From what I have studied (or what I have been told - that would be a better way to put it) the movements between point no. 1 & 2 and 2 & 3 and 3&4 are more or less straight line movements. I mean a striaght line up or down. Not a step by step movement. Up a bit down a bit again up a litttle, down a little and moving like this in between any of the points described above. Please note there is no such straight line movement of sensex since December 2006. It is a staggered move. So do we really have a Wolfe Wave here? I am not an expert on Wofe Wave. Trying to learn it.

Similar Threads for: Bulls Ready to Ride
Thread	Thread Starter	Forum	Replies	Last Post
Jet - Ready to takeoff?	EquanimoX	Trading on Technicals	3	7th September 2006 07:56 PM
Sensex at 10K : are we ready ?	Agilent	General Trading & Investing Chat	40	26th February 2006 08:40 PM