Fwd: OIL INDIA

LOOK AT COPARISION OF OIL INDIA WITH PEER COMPANIES

Fwd: 5 DAY CHART

LOOK AT CHART ATTACHED

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UPDATE AT 12.33 PM

RSI TRENDLINE HAS GIVEN SUPPORT AND WE ARE OBSERVING BOUNCE EXACTLY FROM THERE. WAIT FOR BREAK OF IT FOR DOWN MOVES

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MARKET BROKE RSI SUPPORT LINE AND ON BREAK OF IT WE LOST APPRX 150 POINTS FROM TOP IN FEW MINS

QUOTE FROM BLOG OF SUDARSHAN SUKHANI

Market is bigger than any analysis ( including yours! ) ; The trend is intact until it is broken ( i.e. do not anticipate end of a trend); Focus on following a disciplined strategy rather than focusing on making the correct call as that is what works in trading."

16 K AGAIN

today we have tested 16k again. last time we tested 16k and reversed from there upto 14684 and we have moved up again.as i had updated in after noon as per trendline now we get strong resistance at 16300. rsi trendline is at resistance only.

 

 in nifty chart we have crossed triangle which is pending in sensex.on crossing 16300 we can face big resistance in monthly chart at 16632 which was seen in june 2008.more over it is close to target of 16700 given by vivek patil as per his G wave and 22pe of sensex lvl.

MARKET STATUS

 update on 7.09.2009 4.30 p.m.
15950/16000 hurdles r crossed today. now trendline resistance comes around 16300where we can see strong resistance.profit booking suggested at 16300 zone.

Fwd: BUY ESCORT CMP 81.5

BUY ESCORTS AT 81.5 FOR SHORT TERM TRADING STOP LOSS 75 TARGET 92

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UPDATE ON 18.09.2009
ESCORT 92. TARGET ACHIEVED.
CHEERS!

psychology of market players

Fwd: MARKET STATUS

Friends

 

two charts r attached today. in daily chart we saw a bounce from a critical support level which was intimated yesterday with a 5 day chart.downward channel break out value was achieved yesterday only.what next?

 

next technical hurdles r 15950 and 16000 prev immediate tops , on crossing them we will observe trendline of triangle shown in chart where we get resistance.

 

in weekly chart time equality is shown. if u recall my analyst friend Dr. Spandan Joshi had shown wave count as Ba, Bb and Bc for upmove from 8047 and according to him time taken for Bb+Bc shd be equal to time taken by Ba.i have shown in weekly chart the same. next week it will be time equality zone.so be cautious here onwards in long positions bcz rsi, macd and momentum all r showing -ve divergence.any decisive move out of this triangle with rise in volumes and change in other indicators can change this view.

 

now for long positions after 13220,14684 higher bottom is 15357 which shd be used as strict stop loss.

 

for next few days trading we can look at bank shares like allahabad bank, andhra bank, kotak bank...and few other stocks which r looking good technically like adlab, mll, sesa goa. but with strict stop loss since we are reaching to a very critical time zone.

 

i may go wrong in my views. do yr own studies before taking  decision.

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update on 7.09.2009 4.30 p.m.
15950/16000 hurdles r crossed today. now trendline resistance comes around 16300where we can see strong resistance.profit booking suggested at 16300 zone.

IOC bonus issue

IOC board to meet on 13/9/09 to declare BONUS issue

Scrip Code:530965   Company:Indian Oil Corporation Ltd

04 September 2009

Subject:	IOC Board to consider Bonus Issue
Announcement:	Indian Oil Corporation Ltd (IOC) has informed BSE that a meeting of the Board of Directors of the Company will be held on September 13, 2009, inter alia, to consider issue of bonus shares, subject to the approval of the shareholders.

5 DAY CHART AS ON 4.09.09

LOOK AT CHART ATTACHED .

 

COMMENTS ON CHART

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market gives break out from channel and moves up by 290 points!

cheers!