RELIANCE has crossed the trendline on the daily charts. The resistance is now at 2428 cross over can take it till 2586.
Saturday, March 29, 2008
Reliance Industries
RELIANCE has crossed the trendline on the daily charts. The resistance is now at 2428 cross over can take it till 2586.
Friday, March 21, 2008
INDIAN MARKETS
Analyzing the previous falls in the Sensex and Nifty Fut. We see that the first major fall in case of Sensex was 32% from h-1 and in case of Nifty fut. was almost 38%from H-1
(BLACK FRIDAY).The second fall in case of Sensex was 31% from H-2 and in case of Nifty fut. was also 31%from H-2.
In such case the support for the Sensex should be considered between 14208 which come to 33% from the all time high (21206) or 13780 which is the low (low of 17th Aug 2007) and can form a minor double bottom too and in case of Nifty Fut. 4245 which come to 33% from the all time high of 6336 or the support of the previous high S-3 which is 4239.
(BLACK FRIDAY).The second fall in case of Sensex was 31% from H-2 and in case of Nifty fut. was also 31%from H-2.
In such case the support for the Sensex should be considered between 14208 which come to 33% from the all time high (21206) or 13780 which is the low (low of 17th Aug 2007) and can form a minor double bottom too and in case of Nifty Fut. 4245 which come to 33% from the all time high of 6336 or the support of the previous high S-3 which is 4239.
US MARKETS
The major us indices the Dow Jones Industrial the NASDAQ Composite and the S&P 500 are at crucial support levels. Any future weakness in the US Markets can trigger sell off in major Asian markets which can bad for the Indian Markets too.
Saturday, March 8, 2008
Markets are falling and fear is setting in, Investors are worried as to what will happen next. Should we sell and book the losses on what we are holding is the question on everyone’s mind.
No just wait for a few weeks.
From the previous movements of Sensex and Nifty future seen on the charts attached it seems that the bottom is about to be formed.
After creating a new top as per the previous moves at T-2 the bottom B-2 was formed just below the previous top T-1, the bottom B-3 was formed just below the previous top T-2.
So the bottom B-4 should be formed just below the previous top T-3 which can be around 15320 and 14700 for the Sensex and 4570 and 4230 for Nifty fut.
Wait for the bottom to be formed in the coming weeks.
I would advise investors to accumulate stocks from here as the India story is still alive.
Everyone talk of higher tops when the markets are making new highs and so is now everyone talking of new bottoms when the market is going down. Don’t get carried away with the talks on the streets. Be patient and invest in good quality stocks from here on.
No just wait for a few weeks.
From the previous movements of Sensex and Nifty future seen on the charts attached it seems that the bottom is about to be formed.
After creating a new top as per the previous moves at T-2 the bottom B-2 was formed just below the previous top T-1, the bottom B-3 was formed just below the previous top T-2.
So the bottom B-4 should be formed just below the previous top T-3 which can be around 15320 and 14700 for the Sensex and 4570 and 4230 for Nifty fut.
Wait for the bottom to be formed in the coming weeks.
I would advise investors to accumulate stocks from here as the India story is still alive.
Everyone talk of higher tops when the markets are making new highs and so is now everyone talking of new bottoms when the market is going down. Don’t get carried away with the talks on the streets. Be patient and invest in good quality stocks from here on.
Sunday, March 2, 2008
Hero Honda
As recommended on 25.02.2008 Hero Honda moves above 750.
On weekly charts Hero Honda is crossed the trend line.
On the monthly chart Hero Honda has crossed the trend line. Now as per monthly chart the resistance is at 786. If breaks can see a good rally.Saturday, February 16, 2008
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