Sensex

Saturday, February 06, 2010

Re: [Technical-Investor] Where are you going Miss Nifty??

 

I spent some time last week looking for a bounce and once wave V down has started question is how
far it will go. Wave V is most difficult as it can truncate end equal to wave I or extend.
So If V is over at 15800[V=1.618*I] odd then a larger wave 1 down ends and 2 retraces 50-60%.
However if wave V extends it goes to 13800-12500 depending on the kind of selling and panic
As long as we are below 16250 [4850] its best to believe that V will extend after todays research done by me.
 
 
One of the reasons is as follows.
After looking at all golbal charts what I found most scary was the increasing correlation between
commodities esp gold and equity which was inverse earlier. As long as this exists it should be
increasingly difficult to post any significant upside because the clearest this this week is the break
down in gold and commodity charts which are likely to keep falling for the some time.
So unless 16250/4850 crosses wave V would extend to lower targets with small halts.

www.indiacharts.com
 
Above are  Not my view
 
regards
 
Yogi

From: Ashesh Vakharia <sssc27@gmail.com>
To: Technical-Investor@yahoogroups.com
Sent: Sat, 6 February, 2010 7:45:49 PM
Subject: Re: [Technical-Investor] Where are you going Miss Nifty??

 

Dear AP,
 
Excellent, Analysis, from Intraday to Daily Scenerio. I presumes this could explain a lot of Analytical points, which could help in making decisions, in a live market.
 
Thanks a lot.
 
I remember, a statement by one of the members in the group, very recently. Nifty comes to touch the 200 DMA, atleast once in a year. The sooner the better. I presume, we are just near it, and are getting signals, for support, of a turnaround.
 
Cheers !!!!!!!
 
Ash
----- Original Message -----
From: Abhijit
Sent: 06/02/2010 4:57 PM
Subject: [Technical-Investor ] Where are you going Miss Nifty??

 

I strongly believe, we have seen a bottom at the low of Friday - how long it will hold is something no one can say.
 
Why do I believe this -
 
-    Hourly stochastics are near 5.
-    Positive divergence on RSI
-    Positive divergence on MACD.
-    the 200 dma was almost touched (not necessary to actually touch it)
-    S & P bounced hard from the 200 DMA last night.
 
So guys, wake up early at 5.30 am on Monday and start tracking Nikkei, then Hang Seng which will tell you whether we open flat, gap down, or GAP UP ABOVE 4790, and then start tracking Nifty on SGX till 9 am.
 
But assuming a short  term bottom is in place the first hurdle is the trend line which is near 4830ish.
 
-  Very likely
 
A close above this TL can take Nifty to the first retracement level (38.2%) near 4930.
 
- Likely
 
A close above 4930 will take Nifty to the 200 HMA near 5107 - of course, by then this 200 HMA would have come down a bit, and will not remain at 5107.
 
hmm....Not impossible.
 
A close above 5107 will take Nifty to the final hurdle 5180 (61.8%), and beyond this the parallel channel top can also be a target - 5400 - 5450!!
 
- Difficult to believe!!
 
It is all happening on a screen in front of you next week - stay tuned...:)
 
All the above can be options for a POLL?  ....hehehe
 
AP
 
 


The INTERNET now has a personality. YOURS! See your Yahoo! Homepage.

__._,_.___
For Forum Rules of Conduct & Disclaimer, please go through

http://finance.groups.yahoo.com/group/Technical-Investor/files/!Forum Rules of Conduct.txt
.

__,_._,___
Posted by nsivaa at 7:32 AM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)