SENSEX OPTIONS AS ON 27.11.09

10000 hits !

Dear Friends,

blog has crossed 10,000 hits.i recall when i had given title of 5000 hits in 3 months time KPR misunderstood and thought it was call for nifty and see nifty has also crossed 5k mark during this 3 months time.

if u have observed i am having some problem with my system in saving and pasting charts for blog. size gets reduced. so i am not putting charts since few days.very soon i will sort the problem.

market has broken trendline running from 15331 after consuming 1.618% time in recovering 1960 points after a fall of 2162 points.first imp low was arnd 17k and that is gone today.next immediate imp low is at 16636.

fibo lvls r 16542/16311 and 16080 for 38.2/50 and 61.8% of rise of 1960 points.
so better to keep strict stop losses on long positions. new long positions shd be avoided at present for few days.let mkt settle.

one more change i have planned and following also since few days after reading few mails at isg from Spandan and other friends. i had observed that by tracking sensex regularly readers as well as me were getting carried away by observations on sensex and that always affects yr decisions for buying n selling stocks. patterns for stock and sensex may be different.so i have minimised analysis of sensex and i am increasing analysis of stocks.i have started giving stop loss only while analysing stock. for target u have to observe yrself and go on raising yr stop loss as well as target.

for simple analysis better to follow 1-2-3 system. i will discuss this pattern with help of chart in detail in few days .


i thank u all for yr kind support and encouragement!

BILT

BUT BILT ABOVE 24.25 WITH STOP LOSS AT 21.5

TINPLATE

BUY TINPLATE ABOVE 61 WITH STOP LOSS BELOW 57.

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

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MOTHERSON SUMI

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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

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