SENSEX AS ON 15.10.2010

as shown in chart we crossed recent top of 20706 and made new high of 20855 and have broken last low of 20107 which was made before top of 20855. sensex closed at 20125 on Friday . we have seen higher high and higher low pattern since may end from 15960. on decisive moves below 20107 that pattern will change and we will be in sell mode with stop loss of last top made at 20855.

actually we should watch market in global perspective more precisely, we should look at global currencies .us dollar index has gone below 77 where it may get support and bounce may be seen. as shown in daily chart of us dollar index +ve divergence is seen in rsi chart but price action is yet to give confirmation.with weakness in dollar funds are flow to relatively stronger economies. change of direction of the same may change direction of fund flow.

if profit booking seen in last week is for mega ipo of coal India only prices shd not correct more.watch price action. sharp moves in currencies may bring sharp corrections in equity,gold and crude markets.

***************************************************************

UPDATE AS ON 18.10.10

STOP LOSS OF 20107 TRIGGERED DECISIVELY. SELL WITH STOP LOSS OF 20855

****************************************************************

update as on 20.10.2010

we have made lower top of 20332 on 19.10.2010 and broken bottom of 19870 made on 18.10.2010

STOP LOSS REVISED FOR SELL POSITIONS FROM 20855 TO 20332.

*******************************************************************

UPDATE AS ON 23.10.2010

WE HAVE RETRACED UP TO APPRX LOWER TOP FORMED AROUND 20350 AND CORRECTED AGAIN.50% RETRACEMENT LVL OF FALL FROM 20855 TO 19823 IS ALSO AT 20339.US DOLLAR INDEX AND RUPEE HAS ALSO SHOWN SIMILAR PATTERNS.

DECISIVE MOVE ABOVE 20350 ZONE WILL BRING MORE STRENGTH.OTHERWISE WEAKNESS WILL CONTINUE.

STOP LOSS FOR LONG POSITIONS

NIFTY CROSSED PREV TOP OF 6222 AND MADE NEW TOP AND SENSEX ALSO TESTED PREV TOP (VERY CLOSE )

SO STOP LOSS LEVELS FOR LONG POSITIONS ARE REVISED AS GIVEN BELOW.

stop loss levels for short/medium and long term

short term  20107

medium term 17820

long term 15960

US DOLLAR IND RUPEE MONTHLY CHART

LOOK AT CHART AND AND READ COMMENTS ON CHART.

Business Standard: Sebi sticks to September 30 deadline for FII restructuring

Sebi sticks to September 30 deadline for FII restructuring
The Securities and Exchange Board of India (Sebi) has clarified that it would not extend the September 30 deadline for foreign institutional investors (FIIs) to restructure themselves as broad-based entities.
Read More
www.business-standard.com Email This Article

MARKET UPDATE AS ON 29.9.10

LOOK AT 5 CHARTS ATTACHED HEREWITH.

IN CHART SHOWING BEJAN DARUWALA'S PREDICTION OLD CHART IS PUT .

IT IS FOR REFERENCE OF HIS PAST PREDICTIONS.

**********************************************************

update as on 1.10.2010

new high made today

short term stop loss level is raised to 19864

CHANNELS

LOOK AT CHANNELS AND COMMENTS ON CHART.

**********************************************************

update as on 28.9.2010

stop loss levels for short/medium and long term

short term 19772

medium term 17820

long term 15960

MARKET VIEWS BY ILANGO

refer the link given below.excellent analysis is given which shows future trends options!

great work by Ilangoji.

enjoy!

http://tradeinniftyonly.blogspot.com/2010/09/nifty-gains-245-point-after-160pt.html

MICHHAMI DUKKADAM

MICHHAMI DUKKADAM!

BEJAN DARUWALA'S PREDICTIONS

REFER THIS LINK

http://pankaj564.blogspot.com/2010/04/astro-predictions-by-bejan-daruwala.html

REFER CHART ATTACHED AND SEE PERFECTNESS SEEN SO FAR FOR REVERSALS.

MARKET UPDATE AS ON 31.8.10

update as on 7.9.10

on crossing 80% retracement level short covering and new long positions took market again today at top of channel.some profit booking may be seen here.

80% retracemnt zone (18350/5515) which was resistance previously may give support.

stop loss for long positions at 17820/5350

*************************************************

update as on 31.8.10

today we broke channel referred in chart dated 27.8.10, broken prev top made at 5367, broke 50dma / 50 ema zone all on intra day basis , tested critical support zone of 5350 also ( EXACT LOW 5349) and came back in the channel on closing basis.

since we r retracing from 5550 zone as discussed earlier and we have seen broad based selling from there only we shd be cautious for all long positions, we should not buy considering simply cheaper than higher price seen before.

as discussed we have seen smart money chasing defensive stocks like pharma, fmcg and power stocks.today good up move was seen in all major fmcg counters when mkt reversed from 5350.

retracement levels where we may get resistance in up move in coming days which may be used for generating cash.

38.2 % 18070/5427

50 % 18148/5450

61.8 % 18225/5473

80 % 18344/5510

********************************************************************************************************

20.8.10

my view is to alert all that we are poised at critical point in market. at a resistance of a channel running from long time and at critical fibo ratios time wise and price wise which can change direction in market.if this top of 5545 is crossed decisively then only we can see bullish moves immly otherwise chance of correcting are more.

us dollar index is on up move after correcting up to expected 80/82 zone and on crossing 83 again it will bring more n more weakness in us markets and up to what time we can be decoupled ?most of global markets have started weakening. liquidity is a driving force to sustain bullishness. when valuation are attractive in other markets or assets liquidity will shift and that can bring corrections.

better to move to defensive bets like fmcg/pharma/power time being for preservation of capital with some appreciation.let KING MARKET decide its direction.price has not shown any weakness. higher high and higher lows are seen.

one more technical matter, island reversal seen after first up move when lower top of 18895 was made (after top of 21206) is just filled. will we cross this zone?

****************************************************************************************************

18.8.10

NIFTY STILL IN CHANNEL. LOOKING AT RED RESISTANCE LINE RESISTANCE MAY COME BETN 5520 TO 5560 APPRX.

-