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| Discuss BSE short term top? at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi Tony, I also could not figure how Amit reached 11660. I think 61.8% level ... |
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#11
17th April 2006, 07:38 PM
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Re: BSE short term top?
Hi Tony,
I also could not figure how Amit reached 11660. I think 61.8% level (11578) is very near and 78.6% level (11733) is next (as I use simple fibs) is next. I am of the opinion that a severe fall is out of question as the fall from 11931 is a Zigzag and at the most even if we presume that this corection is not over, I see a flat developing which should Take us nearer to recent low. But my most likely view is that of an impulsive rise to above previous top. I agree fully with you that we we got extremely extended. Anyhow even if my prefferred count play out, index will be tracing 4,5,4,5 termial waves and risk reward is clearly in favour of risk . But who knows? Market has uncanny ability to surprise traders. we can only explore probabilities. Regards, vinay 
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#13
26th April 2006, 07:52 AM
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Re: BSE short term top?
GM
I posted this on my BSE chart this evening (NYC). The parameters are set: Above 12102 the rally continues Below 11008 the correction begins Quite a large range, maybe it will narrow soon. good trading!
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#15
3rd May 2006, 07:01 AM
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Re: BSE short term top?
hi Tony,
yeah tony, we have already hit 12288 high. But as you know this is the last wave up from 7556 level. so caution has to be excercised at these levels. Regards, vinay
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#16
3rd May 2006, 07:08 AM
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Re: BSE short term top?
Hi Vinay,
How are you doing? Yes, totally agree. It is the last wave up from October, not time to be getting long. Time to be scaling out. We're running into trouble here also. The NAZ/NDX have turned down. Looks as though many of the worlds markets will be correcting together. Could get pretty nasty. Take care! tony
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#17
3rd May 2006, 07:48 AM
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Re: BSE short term top?
tony I am fine. It seems you are omnipresent. I can find you all over the
web. Read a spat B/w you and Wally. You are 100% correct it is the analyst whose judgement is right or wrong and we should not blame the theory. Afterall , one cannot be correct all the times. there may be times when, we have an error of judgement. The only thing we can do at such a time is to side step and relook what has gone wrong with us. And how are you doing in your sports(derby) ? best of luck, vinay
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#18
3rd May 2006, 07:54 AM
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Re: BSE short term top?
Hi Vinay,
Yes, joined a few new sites lately. The markets here are quiet. Of course, no one is perfect. We all make mistakes. The Derby is saturday. I like Barbaro (portugese for barbarian). Glad ur doing fine! tony
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#19
7th May 2006, 11:46 PM
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Re: BSE short term top?
Hi Vinay,
Barbaro won by 6 lengths, in a romp. His breeder also won the 2,000 Guineas of the weekend in England. What a saturday for them! The Sensex still looks higher from here. Bit it's dangerously overextended. When a correction does take hold it could be very sharp and quick. Maybe a quick selloff, followed by a bounce, and then a retest (flat).
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#20
8th May 2006, 06:40 AM
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Re: BSE short term top?
hi tony
congrats! On hourly sensex looks like preparing to go up in wave (iii) of this fifth. I am preparing to cut my positions this week. thanks for input, Regards, vinay
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