5 DAY CHART

LOOK AT CHART

UPDATE AT 3.00 PM

ON CROSSING RSI TREND LINE MARKET ON FIRE !

SENSEX 15700+

CHEERS !

MOMENTUM STOCK ORCHID CHEMICAL CMP 111.50

BUY ORCHID CHEMICAL CMP 111.5

STOP LOSS 104.5

 

MICHHAMI DUKKADAM

MICHHAMI DUKKADAM to all readers

Fwd: TWO OPTIONS AS ON 21.08.09

looking at yeterday's upmove and global markets it seems we have completed downmove which started from 16002 at 14684 . as  i had discussed earlier that we may be in 5th wave than this upmove will be third sub wave to be followed by 4th dn and 5th up.

 

as i had shown in alternative wave count that if we are  correcting as Ba-Bb-Bc than we will be on last upmoving sub wave Bc-c. i have shown both options in attached chart.

 

sensex levels :- as discussed yesterday in 5 day charts first target and hurdle will be around 15500 and on crossing it , next hurdle comes at 16000 prev top.on crossing 16k we may face strong resistance betn 16200-16500 area and valuations will be also on higher side.so i think it will be advisable move to book profits on crossing 16k in investments .

 

i have shown rsi trend lines also in chart which are helping us in short term moves on both sides which can be tarcked by u on sensex charts easily. as it is always seen in last leg of rally now outperformance and heavy volumes r seen in mid and small cap stocks.care is to be taken that we r not stuck with high valued stocks at end of rally. so necessary strict stop losses r needed.

 

STOP LOSSES FOR LONG POSITIONS . FIRST AT 15135 AND SECOND 14684.

i will like to remind another bullish option i have been discussuing was 5th wave of first upmove and i had given wave count as below

13220-14493
14493-14170
14170-16002
16002-14684
14684-running

more over as per vivek patil analysis of 7 legged upmove a-b-c-d-e-f-g we might have completed f and we may be on g now to end this bull run.



SMALL CORRECTION: IN CHART WAVES R SHOWN AS d AND e. THEY SHD BE READ AS 4 AND 5 TO MATCH WITH NARRATION.

5 DAY CHAT

LOOK AT CHART 1, 2 AND 3

 

http://pankaj564.blogspot.com/2009/08/fwd-5-day-chart.html

 

 

 

http://pankaj564.blogspot.com/2009/08/fwd-5-day-chart_21.html

buy ghcl at 42

call from technical analyst NOORESH MERANI

 

buy GHCL at 42

 

target 47

 

stop loss 39.5

Fwd: 5 day chart

look at chart

Fwd: 5 DAY CHART

LOOK AT 5 DAY CHART

OBSERVE FERTILISER STOCKS

FERTILISER STOCKS R COORECTING SINCE LONG AND YESTERDAY TEHY HAVE SHOWN SOME VOLUMES. IF VOLUME EXPANSION ALONGWITH PRICE APPRICIATION IS SEEN BUYING CAN BE DONE IN STOCKS LIKE DEEPAK FERTILISER, CHAMABAL FERTILISER.

Fwd: alternative wave count

have a look at chart. i have tried to put an alternative wave count to justify last upmove.