STOCKS TO WATCH

hind uni lever cmp 233 and tata tea cmp 698

GDL ON VERGE OF BREAK OUT

look at chart of GDL. it is on verge a of break out from a long term trendline.

 

Pankaj Shah

market tested 14931 before selling off

it seems that market have completed its first leg of upmove started from 8047 at 14931 today. following days will confirm it.

it has been a hughe run up of 6884 and out of it 2600 point rise was done in last two trading days.now we can see cooling off in large caps who have run up very fast, so i expect profit booking in large cap stocks and upmove can be seen in selected mid cap stocks.

 

www.pankaj564.blogspot.com

 

 

 

 

SPANDAN WAVES

LOOK AT SPANDAN'S WAVES UPDATE AS ON 18.05.09

Dear all, My comments on latest Elliot Waves.
1. It is very clear that we are now on the alternate wave count. The broader cycle is A-B-C wave. The fall from 21200 to 7697 was the A wave. We are now in the B up move which is a ferocious up move which will cause people to forget the bear market is over.
2. B up move can take us to 13100, 14600 and max 16200. This should peak out sometime in August. B wil consist of 3 waves A-B-C. We are now at B-A-5 (or 3). The last upmove is the most violent.
3. We will have a small dip in B-b which can take us anywhere between 9900 - 10700 range. This will be followed by B-C which takes us to 16200.
4.Post this we will have the last C wave with min targets of 10700-9250. The bottom could be in place by November.
This fits in with the fundamental analysis also. The B wave of the bear mkt rally makes people forget all is well. It brings in fresh people to buy at tops.
Thanks, Spandan Joshi

pankaj564.blogspot.com

UPPER CIRCUIT ! A HISTORY IN INDIAN MARKETS

 cooments on chart.

BLOG OF VIPUL SHAH

i have added a link of blog of Vipul Shah, my technical analysis guru.he is very good analyst. he was concentrating on technicals in past and now he is focusing on fundamental analysis.
take the benefit of his analysis.

EUPHORIA IN MKT : DONT BUY WITH LEFT OUT FEELING

 mkt is already 10.7 % up and trading is halted. actually it has hit 2 circuits, bcz of base of march qtr closing.

now everbody is feeling LEFT OUT  as  'LEFTS"  are LEFT OUT from govt.we shd not be crazy to buy in this euphoria. wait for some cooling off. world mkts r correcting now. after this euphoria we will be back to normal business in line with global mkts.

 

Pankaj Shah

MARKET AFTER ELECTION RESULTS

Indian voters are matured than politicians have expected and have given more seats than UPA had expected. we will be having more stable govt which has minimum black mailers.we can have reforms implemented easily.

markets were moving in a band of 11621-12272 since last 10 days with -ve divergence.
looking at euphoric sentiment post results we can have a gap up opening
which can be as high as 5%.
break out from barrier of 12272 can take us upto 12857 (38.2% of fall from 21206 to 7697) after crossing 12568(61.8% of fall from 15580 to 7697).more over crossing of 12568 will open the gates for 14500/16000 (50 and 61.8 % of fall from 21206 to 7697) in coming days.
if a big gap up opening is seen , we shd utilise to sell and book profits. we have seen no of gaps so far and this can be an exahustion gap and we can see trend reversal.buying at this lvl will not be favourable in short term.

200 day moving averages will now become good support areas to invest.

Pankaj Shah

TREND LINE BROKEN

WE HAVE BROKEN TREND LINE WHICH WAS GIVING SUPPORT SINCE 6/03/09 FROM LVL OF 8047. NOW RANGE OF 11621-12272 HAS BECOME CRUCIAL FOR MKT. BREAK OUT FROM THIS RANGE WILL GIVE SHARP MOVE IN THAT DIRECTION OF APPRX 650 POINTS.
PANKAJ SHAH

Spandan's wave counts

friends

Spandan has sent his wave count alternatives.

Pankaj Shah