MARKET AFTER ELECTION RESULTS

Indian voters are matured than politicians have expected and have given more seats than UPA had expected. we will be having more stable govt which has minimum black mailers.we can have reforms implemented easily.

markets were moving in a band of 11621-12272 since last 10 days with -ve divergence.
looking at euphoric sentiment post results we can have a gap up opening
which can be as high as 5%.
break out from barrier of 12272 can take us upto 12857 (38.2% of fall from 21206 to 7697) after crossing 12568(61.8% of fall from 15580 to 7697).more over crossing of 12568 will open the gates for 14500/16000 (50 and 61.8 % of fall from 21206 to 7697) in coming days.
if a big gap up opening is seen , we shd utilise to sell and book profits. we have seen no of gaps so far and this can be an exahustion gap and we can see trend reversal.buying at this lvl will not be favourable in short term.

200 day moving averages will now become good support areas to invest.

Pankaj Shah

TREND LINE BROKEN

WE HAVE BROKEN TREND LINE WHICH WAS GIVING SUPPORT SINCE 6/03/09 FROM LVL OF 8047. NOW RANGE OF 11621-12272 HAS BECOME CRUCIAL FOR MKT. BREAK OUT FROM THIS RANGE WILL GIVE SHARP MOVE IN THAT DIRECTION OF APPRX 650 POINTS.
PANKAJ SHAH

Spandan's wave counts

friends

Spandan has sent his wave count alternatives.

Pankaj Shah

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