SENSEX AT 80% RETRACEMENT LVL 17061

 we have just completed 80% retracement of fall from 17493 to 15331. if we cross this lvl decisively we can move up for new highs otherwise if we reverse from here we can see correction

sensex

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UPDATE ON 16.11.09 AT 11.00 AM
WE R VERY CLOSE TO 80% RETRACEMENT LEVEL 17061 OF FALL FROM 17493 TO 15331. ON CROSSING THIS LEVEL ONLY MKT CAN GO FOR NEW HIGH OTHER WISE WE CAN SEE CORRECTION.
WATCH FROM SIDE LINES FOR SOME TIME AND ACT AS PER FURTHER MOVES

VENUS REMEDIES

LOOK AT CHART

MARKET?

COMMENTS ON CHART

MOTHERSON SUMI

look at chart

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UPDATE AS ON 16.11.09 12.45 PM

MOTHERSON IS TRADING AT 138.8 AFTER MAKING ATOP OF 143+
BOOK PROFITS

MARKET?

comments on chart

RETRACEMENT OVER?

on 3.11.09 we had shown in chart that we can see a strong bounce from here and market has bounced by 1186 points so far.

 

what next ?

 

i have shown 2 more charts.

 

in 5 day chart i have shown small sub wave counts of upmove from 15331 to 16517 which follows fibo nos accurately.more over -ve divergence is also seen there. of course correction in prices is to be seen yet.

 

in a weekly chart we have reached today at critical resistance as shown in weekly charts.

 

so it is time to be cautious in long positions taken at lower levels.61.8% resistance level is at 16667 very close to prev low level of 16606.

 

Pankaj Shah

ZANDU PHARMA, MONSANTO, WARREN TEA

CHARTS OF ZANDU PHARMA, MONSANTO AND WARREN TEA ARE ATTCHED.


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UPDATE ON 27.11.09

WARREN TEA HAS CLOSED TODAY AROUND 220.

CHEERS!
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UPDATE ON 6.1.2010
MONSANTO 1800+
ZANDU HAS GIVEN EMAMI SHARES SO VERY GOOD RETURNS FOR ZANDU SHARE HOLDERS

SENSEX

COMMENTS ON CHART

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UPDATE AS ON 7.11.09
AS PER EXPECTATION WE HAVE SEEN GOOD BOUNCE IN LAST COUPLE OF DAYS. WE HAVE CROSSED 38.2% LEVEL AND AFTER TESTING 16283 WE HAVE CLOSED EXACTLY AT 38.2% LEVEL.PROFIT BOOKING SHD BE DONE IN BUYING DONE AT LOWER LEVELS.

SENSEX AS ON 3.11.09

LOOK AT CHART ATTACHED.
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UPDATE AT 4.50 P.M. ON 4.11.09

CHEERS !

MARKET UP BY MORE THAN 500POINTS AS PER EXPECTED AND SHOWN IN CHART!