NIFTY FIFTY

Hi Narendra, a great deal of hedging from what I can make out.
A great way to go at the high levels we've been seeing.
This pruning down is a good thing to test supports. This shakes those who pile on nicely. No deep correction seen yet, and let's see what happens.
Fortunately so far 3107 mentioned in the previous post has not been blown. The lowest yet was 3107.90.

Price,Pattern and Time all falling together nicely.Do we have a five wave complete sequence now?Are we headed into a multi-month correction to 1600 levels?W.D.Gann said " when price meets time,change is inevitable".
i am keeping my fingers crossed and wait for a week or two to see how the market reacts at these levels.If the picture becomes clear,it'll be time to go short.

Cheers!!!

Hi Amit,

Just watching ur posts and it seems that was great hush on and momentum kept going down, still the market seems to have a positive trend from it.

Any reasons or news that made the corrections so high. Can u infer something about today move. Can u explain me ur understanding on the downtrend. It seems there is a message that Futures has been sold off heavily.

Try to analyse the situation, need ur input.

Regards
Raj

well durgesh the only thing i can hope is that ur analysis goes wrong.it would have been better if u would have mentioned nifty here.
well when i read ur post i thought two things:
1.first if u r talking about nifty i should be searching the legal documents of my cars,house etc. i dont think i wud be able to meet my food requirements otherwise.
2.god save us but if u r talking about sensex then i should be seriously thinking about selling myself ,any takers?

Nice call Misty
Is it possible that Nifty bouncing back to 1600. Really hard target and where would it lead to.
It was quite scary to think abt it.

Raj

Hi

Don't know bout the 1600 thing..
but today's correction was accompanied by the highest volumes seen in quite some time..
60000 cr worth of it..
time for a change perhaps..

cheers
vizzie

As they say in the long run everybody is dead. But does than mean we stop living???

CERTAINLY NOT.

Charts and patterns depends on how u see them.

Let me be a bit creative and see something else here.

I see the first wave (in the chart attached by durgesh) starting around oct '01 and terminating around feb '04. From where the second wave starts and ends around july '04. The third wave starts from there and so we are still in the third wave. The correction is still around the corner but that will be for the fourth wave and then the fifth wave will start.

Eating your own words in stock markets is quite normal and I am no stranger. I am hungry bhi since not making much from the markets any way bull run or bear run. Can't we have tiger or lions running?



Love u all,
Sanjoy

Hi Durgesh, Raj, Misty, Sanjoy...
Nice to see all of you here.
Hang in there Misty, car and house and all. No fears.
Well said Sanjoy, yes, we don't have to stop living just because we are all dead in the long run!

Hi Amit,

I picked Gujambuja @93. It looks to me a strong counter and arrived a price stop of 89 and 90. Please put ur suggestions on this stock.

Also I have seen a heavy uptrend on HindMotor and sudden downtrend on it due to crash on sensex. Watching it on, It looks technically strong but will it at the present momentum. Comments again pls.

Thanks Amit.

Regards
Raj

Hope ---- we do this when we are caught off guard or say , when we are on the wrong side of the market.

Legal Documents--- Now its my time to hope that you are not such highly leveraged on the long side . This one reason is enough for the correction to kickstart now.

Sensex/Nifty--- You cud have better looked a little beneath the message whr the attachment reads loud ... NIFTYWeekly.gif

Target : 1600 ...well....it can be 2100 as well.... minimum 2100 on Nifty...it also depends on the ratios of the internal retracements....

Counts: When did i say " i am damn right, markets are going down" lets see how the markets unfolds....

Fundamentals : Few more int rate hikes coming in US and Japan going to get rid of its zero int rates regime.... so some dollars and yen are bound to head back home....

Its just my opinion frds... Take it easy !!!