ALERT: WE ARE AT 61.8% BARRIER

I give you here some retracement data since we made top of 21206 in jan 2008
first pull back after fall from 21206 to 15332 was up to 18835 61%
second pull back after fall from 18835 to 14677 was up to 17735 47%
third pull back after fall from 17735 to 12514 was upto 15580 59%
fourth pull back after fall from 15580 to 7697 is upto 12272 so far 58%
we are up by 59% from bottom of 7697.
we have faced sell off from this area twice, first on 6/5/09 and today again we faced sell off.
market will show strength only on crossing this strong resistance zone.
election results will be out on 16/05/09.
keep range of 11600-12272 in mind, on breaking 11600 we can see correction of whole upmove.

Pankaj Shah

stock to watch fintech

fintech cmp 746

Fwd: SENSEX 12 MAY

forwarding one more chart from Inder Bhatia.

 

Pankaj Shah

---------- Forwarded message ----------
From: Inder Bhatia <inder.mbhatia@gmail.com>
Date: 12 May 2009 20:03
Subject: SENSEX 13 MAY
To: Pankaj shah <pankaj564@gmail.com>




--
The easiest way to make ourselves healthy is to see that others are healthy, and the easiest way to make ourselves happy is to see that others are happy - Swami Vivekananda

Fwd: sensex 11may

forwarding interesting chart from Inder Bhatia.

 

enjoy.

 

Pankaj Shah

---------- Forwarded message ----------
From: Inder Bhatia <inder.mbhatia@gmail.com>
Date: 11 May 2009 18:12
Subject: sensex 11may
To: Pankaj shah <pankaj564@gmail.com>




--
The easiest way to make ourselves healthy is to see that others are healthy, and the easiest way to make ourselves happy is to see that others are happy - Swami Vivekananda

trend line support tested

--
The easiest way to make ourselves healthy is to see that others are healthy, and the easiest way to make ourselves happy is to see that others are happy - Swami Vivekananda

Fwd: Fw: [ISG:141681] blog

---------- Forwarded message ----------
From: ekam ber <ekamber@gmail.com>
Date: 2009/5/8
Subject: Fw: [ISG:141681] blog
To: pankaj564@gmail.com

dear pankaj ji

Wish you all the best and a grand success of your blog. I will surely post my comments by the weekend .

with regards

ekamber

 

 

 

5 day chart as on 8.05.09

--
The easiest way to make ourselves healthy is to see that others are healthy, and the easiest way to make ourselves happy is to see that others are happy - Swami Vivekananda

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

market topped out at 12272 ?

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

market near critical support 11900

market is very close to critical support at 11900.if it is violated be cautious.
gann turning days were from 4/5/09 to 7/05/09. high and lows of these days are 12272 and 11635.
Pankaj Shah