PANKAJ SHAH

Monday, August 17, 2009

Friday, August 14, 2009

Fwd: TECHNICAL PICK IOC CMP RS 571.00

TECHNICAL PICK IOC CMP RS . 571.00 TARGET RS .750 STOP LOSS 550 TIME FRAME 3 TO 5 WEEKS.

Thursday, August 13, 2009

market has obliged by vindicating my optimistic view for today and gave a strong rally of more than 3 %.we have closed today above 3/5/8/13/21/34/50 all imp dma levels.more over we have retraced fall from 16002 to 14703 by more than 61.8 % and closed just above that .if we sustain above these levels we can see new high for sensex.

all stocks i discussed yesterday has moved up by 2 to 5%.it was a broadbased rally. good IIP nos,tax code discussions by fin minister, positive outlook by US has triggered this bullishness forgetting -ve triggers like swine flu and poor monsoon.

in this rally we are observing a typical pattern of trend reversal. whenever we are close to end of correction we see a doji or hammer pattern and next day we observe gap opening and big move of 400/500 points like we saw today.after such moves we have seen sideways moves in index for few days which confuse mkt players. better be stock specific and take yr decisions.

Wednesday, August 12, 2009

Fwd: MARKET UPDATE

http://pankaj564.blogspot.com/2009/08/fwd-sensex-as-on-110809.html

i had shown parellel trend line set up yesterday and discussed abt probable 5 sub waves of upmove started from 13220. today due to weak global weakness we corrected heavily in morning but recovered smartly later to make a perfect hammer. it is a bullish candlestic pattern. it needs follow up next day.today we have closed within channel i had shown yesterday and hope for 5th sub wave is still alive.

if we look at individual stock charts like sbi, acc,tata motors,kotak bank,ambuja cement, maruti....all of them have taken support on a trendline from where they must bounce or on break of trendline chances of total bull run in those stocks come in danger.so i hope we will move up tomorrow to complete final sub wave.

when i am writing this update US markets r up by more than 1 % , that will also help us to open up.

cement, auto, banking are stronger sectors at presnt.

Tuesday, August 11, 2009

Fwd: sensex as on 11.08.09

look at chart attached. in last update i had shown that we have corrected near 50% of last rise from 14170 to 16002 when we made a low of 15104.today we made low of 14864 which is at 62% of this rise from 14170 to 16002 again a imp fibo ratio. more over we were on 21st day after we made bottom of 13220. we r very close to 50 dma.

in chart i have shown parellel trendlines which give support and resistances. in coming days if we survive today's low of 14864 and move up it cld be either 5th and final sub wave of this upmove or if we have made top at 16002 it cld be pull back to fall from 16002 to 14864. in both cases it is advisable to sell and generate cash.

Sunday, August 9, 2009

Fwd: BULLISH OPTION AS ON 7.08.09

in last mail i had shown a blue trendline for upmove. it is formed by connecting levels of 14786 and 14888. actually if we observe nifty charts it has tested on friday on similar levels. so i have tried an optimistic bullish option. if we follow the same we can see level betn 16k and 16.9k in coming days and that can be end of this rally from where we can see a decent correction.