sensex corrected from top of 21109 to 15135. after that we moved up from 15135 to 18524( 3389 points up move ).
from 18524 we came down to 15748 ( 2776 points )
from 15748 we are in up move.so far we have moved up to 19137 ( today's high so far - 3389 points up move )-- same as first up move of 3389 points
sub waves of moves from 15748 to 19132 are as given below.
(1) 15748 to 17631 ( up move of 1883 points )
(2) 17631 to 16598 ( dn move of 1033 points )
(3-i ) 16598 to 17973 ( up move of 1375 points )
(3-ii ) 17973 to 17251 ( dn move of 722 points )
(3-iii ) 17251 to 19137 ( up move of 1886 points )---2.61 times of (3-ii), apprx 1.33 times of (3-i)
so shd we correct now for the up move from 17251 to 19137?
let us c.
Pankaj Shah
**************************************************************
update on 11.10.2012
sensex has corrected from 19137 and made a low of 18581 so far today.
we may see a bounce from here.on breach of 18552 only we may see more weakness.
**************************************************************
update on 11.10.2012
sensex has corrected from 19137 and made a low of 18581 so far today.
we may see a bounce from here.on breach of 18552 only we may see more weakness.
cheers!.........
market bounces , sensex 18800+......
*****************************************************************
update as on 18.10.2012
sensex bounced back from 18550 zone and shown good strength today.
now a clear range is established 18850 to 18550.break out from this range will give further direction.
if 18550 is broken watch a level of 18415 for a strong support.
market bounces , sensex 18800+......
*****************************************************************
update as on 18.10.2012
sensex bounced back from 18550 zone and shown good strength today.
now a clear range is established 18850 to 18550.break out from this range will give further direction.
if 18550 is broken watch a level of 18415 for a strong support.
hi sir
ReplyDeletehow r u and ur family?? am trying like "gajini Mohammed" to post. but this word verification is giving me much trouble not able to post. once again trying my luck today.
kindly post your target or buying comes in. whenever time permits kindly update ur blog. hope business is going well.
what's ur opinion about coming "assembly elections"??
# every body fine!
ReplyDelete# have removed word verification time being.will see if spam mails come will go back to word verification mode.
# market has corrected from 19137 as expected and is over sold in short term time frames. we may see a bounce from here.because we have corrected so far apprx 29% of last rise at 18581, (low made so far today )only thing has to be ascertained later if bounce comes that will be its a small pull back to fall of 556 points or its a start of sub wave 3-iv ?
let us c.
regarding elections , it is too early to judge but this time Keshubhai may create some problems, congress is giving strong fight this time.it may reduce some seats but seems Modi will be back to power making his 2014 case stronger....
we are very close to last intermediate bottom made at 18552
ReplyDeleteThanks Pankaj Ji.Can you elaborate next waves (Up & Down)and approximate points? Where we need to to be cautioned?
ReplyDeleteDear KPRji,
ReplyDeleteas expected we started correcting from 19137 and today as per expectation we have bounced back from zone near prev immediate bottom at 18550. we have seen 18800+ today itself. it is very difficult to take a final call that we have completed correction and we are for new higher level than 19137.as i mentioned in comments earlier. still it is not clear that this is a small pull back of fall from 19137 to 18581 low made today or next up moving leg has started. i think if we cross 19025 zone we may see new higher level than 19137. resistance level before that may be 18859/18924 being 50/61.8% retracement levels of fall .so if you a re short you must cover on closing aboce 19025.
Thanks.I haven't short. I have just asked to get an idea. Overall lot of world markets are oversold I think after US election(Nov 7th) or before there may be reasonable correction
Deletesensex is not able to move past 50% retracement level of 18859. yesterday top was also around 18850 and today's high so far is also around that level.
ReplyDeletewe should be cautious in long positions.or hedge with puts !
Thank you very much fr your views and word verification too :)
ReplyDeletethis word verification has given me so mch of problem since long time i am reading and going :) not allowing me inside the blog :( :D
thankigg u onceagain.