Rally ends and ready for a Crash Land!!!

[aroonsankar]

Hello all,

Initiate some long position in nifty now (3716 spot) for a target 3820.

Aroonsankar

 

[aroonsankar]

Hello

Yesterdays long call on nifty- 3716spot(3700 future) well passed its target. Exit all long position on nifty now (3830 spot).

Aroonsankar

 

[aroonsankar]

Hello all,

Short nifty again now (3856 spot and future). Exit the shorts if and only if once nifty spot closes above 3920.

Aroonsankar

 

[aroonsankar]

Weak hearts pls dont venture into my last call 'to short'. 3900 is 50% retracement of recent fall.

Aroonsankar

 

[birdinfo]

The rally started from April 2003 reaching its upside target? If we look in broad pespective, we are in final 5th wave. It's clealy looking for a target
of 4360. (Wave 3-Wave I)*0.618 + 2595 = 4360. But we look the charecteristic of the fifth wave only, it looks the upside target 4550 levels.
Even this target may not achieve, if nifty closes below the narrow channel we are currently into. The possible future course of nifty is indicated in the attached file. Your views and replies are invited.


Aroonsankar

I agree with your analyis only a great impulse can take it to 4550 and we are seeing interest rates hardening therefore 4360 on 10 May 2007 +/- 2 Weeks may be the likely scene. Any way I would recommend to exit with profit booking as soon as targets are achieved as greed at this level shall be bad.

 

[aroonsankar]

Hello all,

Exit the short position on nifty, which initiated at 3856(spot)- now (3766)


Regards,

Aroonsankar

 

[aroonsankar]

Hello,

Buy Nifty now 3778 (spot) for target 3960

Aroonsankar

 

[Czar]

so is the position still looking a hold ?

 

[aroonsankar]

Yes Czar. Still believe in a pull back rally which may test 3900 first and 3960.
And holding the long position.

Aroonsankar

 

[peru]

The rally started from April 2003 reaching its upside target? If we look in broad pespective, we are in final 5th wave. It's clealy looking for a target
of 4360. (Wave 3-Wave I)*0.618 + 2595 = 4360. But we look the charecteristic of the fifth wave only, it looks the upside target 4550 levels.
Even this target may not achieve, if nifty closes below the narrow channel we are currently into. The possible future course of nifty is indicated in the attached file. Your views and replies are invited.


Aroonsankar

Interesting.