Re-Cap Sensex 8k to maybe 13k.
I have never seen the mood on the street to be so positive and suddenly
everybody wants to be buying on Monday. All the investors will wake out
of deep slumber chasing stocks and thinking of a new bull market after
a good 50% from the lows :)
So
lets have a re-cap of things put up on this blog and lot many of us
might have profitted from the detailed views and strategies.
There
is a lot of effort and analysis that goes into the postings and hope
readers have been enjoying the same. Many may have not been active in
the last few months coz of the utter pessimism in the sentiments so may
have missed the detailed views given.
Have
included only a few of correctly timed reports/presentations/analysis
etc in the last 2-3 months. Do have a throrough read and do post in
your comments.
CLICK the links and have a thorough read !
Here had suggested about a major bottom being formed in March and then retrace back 38/50/61% of entire downmove !!
Mid
caps and Small cap indices had lost 73-78% from peak and further drops
would create opportunities and long term investors should start
researching.
Discussing
about how we might have already seen a panic bottom but a re-test or
10% lower could be seen in March. Dow Jones and other global indices
did break but Asia did not. Also crude being bottomed out and reversal
was near.
This
strategy was well-documented with an example of LnT about how to go
about building a long term portfolio but did not elicit much of
comments as many were averse to buying. Although we could only get into
2-3 levels of the pyramid but at least gave some exposure to stocks
like LnT, Axis etc. The view was clear to buy and build on.
Another
power point posted on AVERAGING of how investors make a mistake of
doing it in no of shares rather then amount of money. Do check it !! -
CLICK HERE
How
we had been seeing a formation of tops and then a crack. This was
slowly shifting into a possible higher top and higher bottom formation.
The fractal pattern was changed when it broke above 10127
This
is the first time had mentioned about the a possible surprise rally to
13k is possible if we close above the huge wall of resistance at 10.5k
"""Now
yet again index is at a breakout zone of 10500 which if crossed with
momentum or stays above for 3-4 sessions index should try towards 10900
( prev top ) /11600 ( fibo and ema) /13k(channel). This alternative
remains in place for next few months.""
I
have not spoken much of Elliot in last 3 years but was one of the few
who might have spoke about the start of a big B wave opportunity in
Sensex. Shown the exact pattern seen in Dow in 1930s. Do read this.
A
detailed technical study of Asian indices - Hang Seng Nikkei and India
where we had seen a classic triangle pattern failure followed by double
bottoms and then a channel which is now broken !!
--> Sensex Elliot Wave and Technical Perspective
After giving a brief on the B wave opportunity in Sensex followed up with a detailed technical view.
""So we would expect Sensex may ideally touch 12900/14500 levels once in next 10-13 months or earlier also.""
12900 might be quicker then expected. Now i do expect many Elliot wave analysts to change their counts !!
A
detailed post on global indices where we discussed about the
flag/pennant formations in all of them pointing to a 7-12% rally in
short term.
Bang on almost all of them did the target levels. !!!
Sensex
has seen a gap-up action after finding supports on the momentum line
and this view of ours might be validated again tomorrow by a gap-up on
Monday which may target our 12900 levels being discusssed so many
times.
""" The trend is still up so the probabilities of 12900 seem to be higher ( maybe market knows the result). """
IF
YOU DO LIKE THE VIEWs/ANALYSIS/CHARTS and if IT HELPS in your trading
and investment decisions do post in your
comments/suggestions/criticisms here or mail to noorrock2002@gmail.com.
Also pass it to your mailing lists/friends so we get more comments and then content gets improved.
Best Regards,
Nooresh
09819225396 ( aftr mkt hours )
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