HIND UNI LEVER AT CRUCIAL SUPPORT

​LOOK AT CHART ATTACHED.

HUL IS CORRECTING FROM 620. IT IS OVERSOLD ALSO.

WILL IT BOUNCE FROM HERE FROM SUPPORT ZONE AROUND 550 ?​

TATA INVESTMENT TREND LINES

ATTACHED CHART OF TATA INVESTMENT...

NIFTY APPROACHING STRONG RESISTANCE ZONE AROUND 6750

look at this chart.

http://prntscr.com/34s4k4

MARKET STATUS

we have retraced from 6142 to today's low of 5871 by 271 points which is 78.6% of last rise from 5798 to 6142 ( 344 points ).this fall has come in apprx 62% time of rise

if we look at 3 legs of fall from 6142 to 5871:
dn 6142 to 5933 : fall of 209 points
up 5933 to 6033 : rise of 100 points - 48% of fall
dn 6033 to 5871 : fall of 162 points - 1.62 times of fall, 78% of first dnmove of 209 points
perfect fibo nos.

as per Vivek Patil's report 0-b line is decisively broken today, sensex low made today is 18826.now second confirmation is faster retracement of rise from 5798 to 6142 is required and i think it may come by breaking 5798 on thursday .

i may be wrong in understanding his analysis.

i do not know neo wave analysis. just trying to understand direction of market movement from his report.

following market by price and volume  is far far better and simpler to understand and to act .

Pankaj Shah 

--
"Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible." 

BULLISH ISLAND REVRSAL

look at bullish island reversal......

5740 to 5730 crucial support area, bullishness till that support zone is intact.further higher bottoms will become stop loss for further moves.

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bullishness sustained up to 61.8% of last fall and fallen again with gap dn below sup area of 5740/5730 indicating more bearishness indicating breach of prev low of 5683......

SENSEX CHART AS ON 2.05.2013

COMMENTS ON CHART.

LAST FALL RETRCED BY 80%..........

today we have seen high of 19792.....

last fall was from 20204 to 18144......

80% level comes at 19792..

tomorrow RBI policy is to be announced. on last 2 occasions we have seen correction after policy announcements.

we may see some corrections from tomorrow......

TATA STEEL CHARTS

tata steel monthly and weekly charts are attached herewith.

will we see a good bounce from here ?

LARSEN AS ON 4.03.2013

comments on chart

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update as on 8.03.2013

larsen on fire........

book profits

ALTERNATIVE BULLISH WAVE COUNT

as per ellioticians a top is made at 20204 ( 6112 for nifty ).

tried to make an alternative wave count which is bullish.

this is not a recommendation to buy. it is more probable that we might have topped at 20204.

let us c , how market behaves.......

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update as on 8.03.2013

today's high made so far is at 19582......so far we have retraced by 57 % of total fall.more over we are now in gap made betn 19555 & 19620..61.8% retracement level is at 19652.

so now we are at trend decider area. normally pull backs do not move beyond 61.8% lvl mostly.so if we are in bearish mode we might have made top at 19582 or we may make it soon and reverse down wards.

on decisive move above 19742, lower top made after 20204 bullish option will be more probable......

interesting area....