Wednesday, March 17, 2010

SENSEX

we are very close to rsi trendline in weekly chart.

crossover or reversal will indicate further moves.

UPDATES : MIRAGE 2.0 ANALYSIS BY DR. SPANDAN JOSHI


Dear Pankajbhai,
 
Regarding Mirage and technical analysis as per 2.0,
 
1 We have crossed 17362 however with very thin volumes. (12K only)
 
2 Regarding RSI, we have touched it just now at 17510.
 
3 Regarding my timing, we have gone just past 10th March + 2 days, i.e. 15th March.Susequently sensex crossed 17362 on 16th March.
 
4 Regarding 100 EMA, we have been closing 50% days over 100 EMA since we have been down or below it. (21 days?, I can't remember) (Now we are up for 11 days)
 
5 Regarding Fibonacci, we have crossed 80% milestone of the entire down fall.
 
Hence all parameters fall in to a new upmove from 15652 unless,
 
AAA:  We form a bear candle, i.e. go above yesterday's close, like just now at 17510 but close below yesterday's close with slightly higher volumes,
 
BBB: We do not close above 17362 odd levels greater than 3 days.
 
CCC: We break 16900 very very soon and with heavy volumes. (I.e. within next week) 
 
DDD: We , Like Daily Bear candle, also form a weekly bear candle, I.e. start with higher than previous week's levels and end below it.
 
EEE The Odds will be in favour of a fresh new up move if, we close 3 days above 17370 as well as week to week based higher close too.
 
The only major difefrence this time is that Mid/Small caps are not moving much while heavy weights are.
 
We shall know by end of today or by tomorrow where we are.
 
Regards
 
Spandan


sensex

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