Re: market topped out at 12272 ?

Thanks, Pankaj for consolidating all the analysis at a centralized place which is easily accessible.

 

Though market is set for  correction, mid caps are still shooting up.

 

Also, with the recent economic data turning positive and also the budget session set to be in June-July - there will be certain sectors and companies which will do good and these are bound to be good pick in the next correction.

 

If time permits and also if you have access to data - can a sector wise future performance forecast along with nifty/sensex outlook be assembled on your blog.

 

This is just a suggestion and certainly everyone will benefit (including me) :-)

 

Thanks,

Sudhir

 

 

On Fri, May 8, 2009 at 4:16 PM, Pankaj shah <pankaj564@gmail.com> wrote:

looking at today's market i feel there is a good probability that we might have completed 5th wave on 6/05/09 at 12272/3717.

we have broken 11899 which lvl i was considering as first warning.
gann turning days were from 4/5/09 to 7/05/09 with high and low of 12272/11635. so even by that count if we break 11635 that will also lead towards coorection.

more over there was a gap at 11430-11635 on 4/05/09 that will be a support. more over in candle stic chart also we will be getting support around 11500.

if we look at weekly charts we have a gap 11492-11635. if we open gap down on monday below 11635 it will be a perfect island reversal, a bearish signal.

let us c. what happens next week.

 

Pankaj Shah