Market ready to touch 13000

amitt29 · #11 7th August 2006, 03:00 PM

Quote:

Originally Posted by mahmeds2000

Hi rvlv,aqua2006,
No dear its not my dream my dream is 20000

. as far as elliot wave is concerned acc. to techni trade of Rohitb
The first wave of correction was from 12671-8799 with downtrend. The second wave of correction (currently
ongoing uptrend) is from 8799-11081. Earlier it was 8799-10940 but as the Sensex crossed 10940 so the rise
from 8799-10940 is still a part of the rise from 8799-11081.
We need a confirmation of the end of this rise from 8799-11081. If Sensex sustains 11081 in this week then we
can expect a rise to 11200, 11703 and then 12187.
and if it achieve 12187 than the next targate is 13000.(by me)

Ahmed

And mahmeds ji,dont rely on others and try to do the work urself,it will stand u in good stead.
Apart from the profit its the pleasure of DIY.

Take it as an advice from a well wishing friend.
Amit

jdm · #12 7th August 2006, 03:01 PM

hi all,

just a request:
dream or thought please substantiate the same. will be helpful for lesser souls like me.

some thoughts:
a lot of guys are comparing the latka jhatka of the sensex with that of the Dow. heres my take. (see attached graph) do put post your views.

cheers,

jdm.

P.S. - "don't predict the market, be with it" - thats what wise men says.

jdm · #13 7th August 2006, 03:12 PM

Quote:

Originally Posted by amitt29

Oh i was never good at spellin,

pretty objective u see as long as i can get my point across.

we all know what you are good at amitt.

Quote:

Originally Posted by amitt29

Ah and the waves,

hmm.I am not sure i wud rely on a software doin the work for me.Because it gives a lot of counts,but usually with me I have only one count more oten than not.

So its of no use to me,thanks for this anyways.
Regards
Amit.

absolutely amitt, it neither works for me.

cheers,
jdm.

adilsaleem · #14 7th August 2006, 11:00 PM

Does the below infor help

(data from NSE website)

FII
Date Derivatives Cash
2-Aug 73.88 don no
3-Aug 636.83 227.67
4-Aug -182 -105
7-Aug -450 -122

net 78.71 0.67

mahmeds2000 · #15 7th August 2006, 11:19 PM

Quote:

Originally Posted by amitt29

And mahmeds ji,dont rely on others and try to do the work urself,it will stand u in good stead.
Apart from the profit its the pleasure of DIY.

Take it as an advice from a well wishing friend.
Amit

Dear friend Amit,
Thanks for the good advice. But the problem is i have started trading from just one year only so i am much reading other views and from there making my views.
So dear friend i want to know what types of studies i have to do for making my own theory and decesion.
And one more thing this thought that market will reach 13000 i said because of some reason.
1. By reading different news from different resources i have concluded that FED is not going to rise rate. So if u people remember that day when just a hint of pause take the market to 300+ point rally so if actually rate is paused then u can imgine where market will go.
2. Crude oil price slightly down.
3. DOW last week gain is highest in one year.
4. 80% results are good in first Quater and expected again good in 2nd Q.
5. Our expected GDP in Future is good.
6. Offcourse indian economy is growing.
7. Most of the investor is with cash money and waiting and as soon as they found any thing +ve they jumped to buy.
8. FII's start buying (see June,July,Aug fig.)
9. USA and some other country is trying to stop Geopolitical war.
10. Most of the stock is below there Book value even if there result is good means they become attractive now.
11. Volume of sensex and nifty start increasing.
12. Most of small cap stocks and midcap stocks are in UC.

So these are the points which convince me that market will touch 13000 in near future.

Ahmed

amitt29 · #16 7th August 2006, 11:43 PM

Mahmeds
problem is,
We had hoardes of ppl buying at 11000-12000 levels just 3 months ago,and look at it now,theres no conviction at all.Volumes speak for that.
I once told a guy when Nifty was around 3650 i wasnt happy with the market,and he was chiding me saying all sorts of things abt fundamentals etc.And this guy pls note was an experienced guy compared to me.Experience is not the only factor,if it was we wud have never made it to he moon.U know what happened at 3780 levels,i neednt remind u of that.

Sentiments have taken a huge beating,odd lotters stuck at different levels of market trying to catch the falling knife are selling at every rise.That doesnt help it.Ideally we wud like the market to consolidate between 3300-3200 for a long time for ppl to have some confidence back.The F2's are smart buggers,they have hedged themselves pretty smartly,the long term story of India is intact they know it more than a lot of Indians do.
I personally wudnt read too much into fed pausing or not pausing,its a known fact that global economies are slowing down,they r just trying to control that,markets have already factored it in expecting the next quarter to bring the relief.
And mind u 1 day 300 point rally dont take u to 13k.
Funnily enuff,i dont look at f2's data etc.I just read dada's post because he puts em very well and its informative for me.

I am sure every newcomer to this board shud read his posts from the beginning.
Warm regards
Amit.

Spiderman · #17 8th August 2006, 08:12 AM

hi Amittb,
well done sir. you are doing fine job. I also agree with your views
on fed whole heartedly. Keep going the good work. I also like elliott a lot.
do you use elliott or neely or both. Any views on comparision b/t the two. I
like standard elliott and do search the web for analysis(elliott) but could not find
many. I found hitender vasudeva's stockmechanics.com. rohit srivastva's india charts
on web. but I most liked vinay verma's blog the most . his analysis is crisp and thoughtful
especially his long term view. Hitender's... well ok but did not like rohit's as he has strange
counting style. As regards neely I have read mushtaq khair and vivek patil views. I could not
find any link to Milind karandikar except an article at business standard. If you have any link
to his site/space please post. If you ask me to rate these elliott pundits for simplicity and
crisp analysis I would rate vinay verma the best. Unfortunately he stopped posting here by
the time I came to this forum. kindly post your views.

spiderman

amitt29 · #18 8th August 2006, 10:08 AM

Hi Spiderman,
Thanks for the good words,I agree with you Vinay's analysis is crisp.As regards to reading other's blog,I wud suggest as a wellwisher just to read the opinions and not to use them as a tool,as too much opinions clog the mind.Just my experience.
Mr.Neely uses Elliott in a very unconventional way and I must say despite any criticism that he faces his method is actually pretty good.He has just applied some logical conclusions to unexplained or unclear counts.
I dont think anybody else posts some thing as valuable as Vinay does.Milind Karandikar etc.Vivek Patil's analysis is pretty confusing for me.

I wud suggest being thorough with conventional Elliott first then with Mr.Neely as it makes the task much easier.
And dont worry abt the trading/investing,if u r good at Elliott, u will take to it as a duck takes to water.

And believe me u dont have to look at anything else,and I mean anything.
Warm Regards
Amit.

munchikana · #19 8th August 2006, 02:24 PM

Hi Spiderman,
I have just finished reading Dr. Alexander Elder's book Come in to my trading room. I liked his one observation. He says, in the initial stage of development of a trader, he looks at the tips and views given by the so called "experts" (appearing on T. V., books, net etc.) as if there is no other alternative. In the next stage, the very same trader avoids these experts and their views (to put it in the words of Dr. Alexander Elder) "like a plague". In the last stage, that is, when the trader learns the tricks of the game and matures as a real trader, he does not avoid them altogether, instead, he hears their views and tips, but before jumping at them, makes a good analysis of his own and only if it worth taking, then the trader takes it. I think this is the most sensible view I have ever read on this aspect.

AJIT14 · #20 8th August 2006, 02:41 PM

Quote:

Originally Posted by amitt29

Mahmeds,it will touch 13k in future,near midterm and evryother time frame is just relative to observer.
But to touch 13k first it needs to hold on(i mean hold on and not touch)to 11k first.
We dont need 300 points rally a day,50 points a day will do,remember the tortoise and hare story.
The tortoise wins always.

and these are random thoughts of mine.
Regards
Amit.

3200 nifty ? target for this move

Ajit

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