BULLISH ISLAND REVRSAL

look at bullish island reversal......

5740 to 5730 crucial support area, bullishness till that support zone is intact.further higher bottoms will become stop loss for further moves.

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bullishness sustained up to 61.8% of last fall and fallen again with gap dn below sup area of 5740/5730 indicating more bearishness indicating breach of prev low of 5683......

SENSEX CHART AS ON 2.05.2013

COMMENTS ON CHART.

LAST FALL RETRCED BY 80%..........

today we have seen high of 19792.....

last fall was from 20204 to 18144......

80% level comes at 19792..

tomorrow RBI policy is to be announced. on last 2 occasions we have seen correction after policy announcements.

we may see some corrections from tomorrow......

TATA STEEL CHARTS

tata steel monthly and weekly charts are attached herewith.

will we see a good bounce from here ?

LARSEN AS ON 4.03.2013

comments on chart

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update as on 8.03.2013

larsen on fire........

book profits

ALTERNATIVE BULLISH WAVE COUNT

as per ellioticians a top is made at 20204 ( 6112 for nifty ).

tried to make an alternative wave count which is bullish.

this is not a recommendation to buy. it is more probable that we might have topped at 20204.

let us c , how market behaves.......

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update as on 8.03.2013

today's high made so far is at 19582......so far we have retraced by 57 % of total fall.more over we are now in gap made betn 19555 & 19620..61.8% retracement level is at 19652.

so now we are at trend decider area. normally pull backs do not move beyond 61.8% lvl mostly.so if we are in bearish mode we might have made top at 19582 or we may make it soon and reverse down wards.

on decisive move above 19742, lower top made after 20204 bullish option will be more probable......

interesting area....

BIG FALLS

LOOK AT FALLS IN DIFFERENT INDICES FROM RECENT TOPS.

LARGE CAPS : 7 %

MID CAP : 15 %

SMALL CAP : 20 % 

EK BOUNCE TO BANTA HAI FROM TOMORROW LOWS........A RELIEF RALLY.......? 

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update as on 11.03.2013

we have seen good bounce back from lows made at 18760.
today's high is at 19755 very close to lower top made at 19742. it is advisable to book profits in long positions taken at lower levels.

Bullish Alternative

market is correcting since 29.01.2013 and higher probabilities are of making intermediate top at 20204.looking at strength in today's market which may be a short covering due to f n o expiry on 28th as well as budget, an alternative is attached herewith.breach of 19k again will make it invalid.

SENSEX MONTHLY CHART AS ON 1.02.2013

comments on chart.

RELIANCE UPDATE

refer following link and comments of it.

http://www.pankaj564.blogspot.in/2012/12/reliance-as-on-28122012.html

we had seen intermediate top on 21/2013 of 955 we have seen today low of 880. we are very close to support area around 875/880. we may take re entry in the stock.