Wednesday, June 10, 2009
Tuesday, June 9, 2009
SENSEX CHART
WATCH RELIANCE IND TOMORROW. IT CAN GIVE DIRECTION TO MARKET.
market bounces
after correcting from 15257 made on friday we have gone dn to 14526 in today mrng. looking at retracement lvls,50%/61.8%/78.6% lvls are 14892/14977and 15100. watch this lvls. failure to cross these lvls we can see lower lvls.shorters can keep stop loss of 15100.
as mentioned yesterday IT shares are showing strength today also.
as mentioned yesterday IT shares are showing strength today also.
Monday, June 8, 2009
MARKET STATUS
refer link .http://pankaj564.blogspot.com/2009/06/market-status.html
it was posted on 4th june.next day as per expectation we went upto 15257 and started selling off. i had given a comment when we were near 15250 warning that it is becoming dangerous to be on long side.
finally today broad based sell off is seen. in sensex we are at lower lvl of a range which i mentioned on 4/6/09 at 14600. but corresponding lvl in nifty was around 4450 and it is broken decisively. even global markets are also showing heavy profit booking. what next?
on breaking 14600 we are going to see more weakness. it may be prudent now to sell on rises.
refer long term rsi chart posted today.
only IT sectors leaders like infy, wipro, tcs were showing some strength today.
it was posted on 4th june.next day as per expectation we went upto 15257 and started selling off. i had given a comment when we were near 15250 warning that it is becoming dangerous to be on long side.
finally today broad based sell off is seen. in sensex we are at lower lvl of a range which i mentioned on 4/6/09 at 14600. but corresponding lvl in nifty was around 4450 and it is broken decisively. even global markets are also showing heavy profit booking. what next?
on breaking 14600 we are going to see more weakness. it may be prudent now to sell on rises.
refer long term rsi chart posted today.
only IT sectors leaders like infy, wipro, tcs were showing some strength today.
DOW STRUGGLING AT 200 DMA
UPMOVES STARTED GLOBALLY IN FIRST WEEK OF MARCH. WE STRUGGLED FOR FEW DAYS AND CROSSED 200 DMA IN APRIL WHICH WAS AROUND 11300.DOW HAS REACHED AT 200 DMA NOW AND DOW IS STUGGLING THERE AND IT IS NOT ABLE TO CROSS IT DECISIVELY.ITS FAILURE TO CROSS 200DMA WILL CREATE PRESSURE IN WORLD MARKETS.
Friday, June 5, 2009
Thursday, June 4, 2009
market status
we have closed today near upper boundary of the 14600-15000 range. its highest closing since long time in our mkts.crossing of this range can give move of 200-500 points but this upmove shd be used for profit booking.
rsi values are dly 76 and weekly 77.-ve divergence still continues.
moves in defensive sectors like fmcg and pharma are seen which are normally seen at the end of a rally.euphoric buying is seen in mid n small cap stocks irrespective of fundamentals.
PE of indices have crossed 20+lvls which indicates stretched valuations.
we are in fibo time clusters as discussed in prev mails.do not get stuck with high priced shares.
rsi values are dly 76 and weekly 77.-ve divergence still continues.
moves in defensive sectors like fmcg and pharma are seen which are normally seen at the end of a rally.euphoric buying is seen in mid n small cap stocks irrespective of fundamentals.
PE of indices have crossed 20+lvls which indicates stretched valuations.
we are in fibo time clusters as discussed in prev mails.do not get stuck with high priced shares.
STOCK TO WATCH DABUR CMP 114
fmcg stocks r moving. hul,itc,colgate has moved. look DABUR for for short term investment for 10% gains.cmp 114.
Wednesday, June 3, 2009
DEFENSIVE STOCKS MOVE AS PER EXPECTATION
as we had expected defensive stocks like hul, cogate, itc, tata tea etc are moving higher. may be smart money might be shifting from momentum stocks to defensive stocks.we are not able to cross 15k zone.if we are not able to cross 15k barrier we may move towards lower boundary of range 13.5k.decisive move above 15k only can give strength to mkt.
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