Moment of truth ??

[Czar]

Your views and comments on the moement of truth in this sensex chart

 

[kuldeep49]

Your views and comments on the moement of truth in this sensex chart

Czar,
Sensex closed in the red down 16 points, while nifty gained 5 points but formed an evening star. As I pointed out in the other post we can look forward to a Manic Monday!

 

[Czar]

plus 5 waves in the rising wedge complete, its really moment of truth imho...lets see...

 

[amitt29]

Also Czarbhai,perhaps it has not been able to take out intraday highs on last two occassions,thursday and friday,indicating trend change.
And also
1)price action is narrow,volume has expanded
2)volatility has increased.
We r in for a make or break.Nifty has to take out 3606 on Monday,and Sensex too the previous high of Monday.
But I must admit the past 12 days have been quite a learning experience,anybody who is a keen student wud have a life time of info.

Warm regards

 

[Czar]

+ many heavies showing -ve divergence

 

[vince]

Its high time we corrected anyway, should get some retail participation back in the markets

 

[srisara]

hi all,

what abot the Nifty on a Weekly Chart? A hanging man? can we expect a trend change? I feel we are in for a correction.

Satya

 

[boppanavijay]

there is no panic in the market.mkt is only waiting for results to cross 3610 levels.any fall of 50 nifty pts is a buying opportunity

 

[amitt29]

On an alternate front Nifty may retest 3528 and bounce back,making everyone happy.
Short term targets for this uptrend are 3615-3630-3692.

But,theres always a but,Nifty must not close below 3550 on a consecutive basis for this uptrend to remain intact.

I know ppl will be gunning for me but it is easy to be bullish at the top.
And u wud want your fire alarm system to warn when it detects smoke,not when u r engulfes by fllames.

 

[smridhi]

On an alternate front Nifty may retest 3528 and bounce back,making everyone happy.
Short term targets for this uptrend are 3615-3630-3692.

But,theres always a but,Nifty must not close below 3550 on a consecutive basis for this uptrend to remain intact.

I know ppl will be gunning for me but it is easy to be bullish at the top.
And u wud want your fire alarm system to warn when it detects smoke,not when u r engulfes by fllames.

Dear Amitt

I am happy to know from your previous posts that you are following Glenn Neely's Elliott wave Principles. I too just started studuying it. Soon I ask some doubts in that and hope you dont bother you!

I understood that you acceptting Mr.Caldaro's oEW based predictions from that thread, he is telling alreay BSE topped ar 12487 levels with his 5 counts in wave V. Now you are projecting much higher levels for nifty. Is there any contradictions? Or am not understood properly? Please give your feedback.

Regards
Suresh