STOCKS TO WATCH FOR TRADING :METALS, CAPITAL GOODS AND BANKS

WATCH STOCKS FROM METALS, CAPITAL GOODS AND BANKS FOR TRADING .

SENSEX WAVE COUNT BY ILANGO

LOOK AT CHART FOR WAVE COUNT

watch 16834 for short term

moves from 16495
16495 to 16834 up
16834 to 16613 dn
16613 to 17196 up
17196 to 16836 dn so far
if we sustain this lvl of 16834 we can see a small bounce.

5 DAY CHART AS ON 25.09.09 AND 30.09.09

COMMENTS ON CHART

MARKET AND STOCKS FOR NEXT WEEK

LOOK AT CHARTS ATTACHED HEREWITH.

STOCKS LOOKING TECHNICALLY GOOD ARE AS FOLLOWS.

IOC/ HPCL/BPCL (MAY BE BCZ OF OIL INDIA LISTING ON 30/9)

PHARMA STOCKS

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UPDATE ON 26.09.09
looking at weekly charts pharma stocks r on overbought side so it may advisable to book profit in pharma stocks also on further run up.
oil and gas sectotor has been consolidating since jun tops. it needs a strong brek out from current lvls to outperform.

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UPDATE ON 29.09.09

PHARMA STOCKS GIVE GOOD UPMOVE.

OIL AND GAS SECTOR ALSO GAVE GOOD RUN IN LEADERSHIP OF ONGC AND GAIL.

IOC , HPCL AND BPCL R DN TODAY.CAN GIVE MOVE UP TOMORROW ON LISTING OF OIL INDIA.

videocon

Videocon may be better known for consumer durables, but the company's little known oil exploration business is the star and the promoters may be set to make that into a money-spinner.

Videocon Industries,India's leading consumer durables maker, surprisingly, does not have sale of electronic appliances as its major revenue churner. Instead, it's the oil and gas exploration and production business, which is the cash cow.

According to sources, Videocon is looking at unlocking their value by either hiving off the business or going for a public listing overseas. While chairman Venugopal Dhoot did not reveal the details, he accepted that an expert has been roped in to look into the various options.

Venugopal Dhoot, chairman of Videocon Industries, said, "We expect good recovery from Brazil in a year or two and our oil and gas business is currently doing extraordinarily well.

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29/09/09

videocon moves up , tested 258.

5 DAY CHART AS ON 25.09.09

COMMENTS ON CHART

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29.09.09

break out from triangle on up ward side gives move of 200+ points today.

cheers !

TENTETATIVE WAVE COUNT IF WE R ON 5TH WAVE

after putting this wave count in isg i had received interesting comments from tech analyst friend MAHIS. and mostly he wanted to convey that we r not following 5 wave pattern from 7697 but  a 3 wave coorective pattern from 8047 from where 3rd wave was shown in 5 wave count pattern.

i shared this chart with a senior analyst and i got reply from him with both options bullish and bearish in same chart. it is interesting to see. i am putting here link for the same.

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEictsMnj7gbQ2QqVJpypPfmXheDQ6TDU73_nc1E9FK6qw12Q51Y2CJndExk-5hFDj986ES5JtdLG_qyDNUAPBNh7zQJSbTvV8aa8Z1S9OdpwE2igl-Cmy10xCytaROuKeqsmbC4kM0NTSVr/s1600-h/1.PNG

please go thru it.end resiluts r same. enjoy it.

.

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Posted By pankaj564 to PANKAJ SHAH at 9/22/2009 05:14:00 PM

GAP AT 16477-16498

LOOK AT CHART

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MARKET BOUNCED FROM CHANNEL SUPPPORT AREA AS EXPECTED !

CHEERS !

Fwd: Sensex Weekly RSI

DEAR FRIENDS,

MR. VENKATESH HAS SENT ONE BEAUTIFUL CHART WITH HIS COMMENTS.
GO THRU IT. IT IS MATCHING WITH MY 5 SUB WAVE CHART READINGS.

PANKAJ SHAH

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Dear Pankajbhai,

Please find the chart attached showing weekly RSI from bull market beginning in 2002-2003. We are nearing and very fast approaching the RSI levels of 75-78 . If we look at all the previous occasions when the RSI did go upto that point, the Sensex corrected by atleast 30% from the highs (if we take the high and lows of these times). This time I have a feeling the high may occur at the levels of maybe 17,800 - 18,000 on the Sensex (if the present rally continues without a fall). From thereon, a 30% correction could very well take us back to 12,600 levels (70% of 18,000). This may happen slowly over a period of 3-4 months maybe till Feb / March and not as fast as the fall from 21K. We have to remember that in all the previous corrections we were in a bull market so corrections stopped at around 29%-30%. As of now if global conditons go bad, the correction maybe more severe here. Please do let me know your views too sir. I am learning from your very valuable posts on the groups.

Many Thanks,

Venkatesh