Dow Jones corrected on friday and was not looking good, also the information related to Nuclear Deal is unclear, and any bad news related to it can bring futher correction. It seems 16000 is not far away from sensex at this time and also,many stocks were showing overbought levels and stretched patterns which suggested correction.
As posted earlier in this blog,that on 19th Oct we will have a new low,which happened and now we could be heading towards a short term correction,its pretty difficult right now what will happen on Diwali but yes this correction could be an early one before Diwali and we could see a new high around it.
I dont rule out any huge correction,if COngress is adamant on Nuke Deal and goes ahead with it, then its quite possible that the Left will withdraw support and Lower Circuits will be hit.
We all hope that this doesnt happen, but if it does, then God Save Indian Stock Market.
Sunday, October 21, 2007
Thursday, October 18, 2007
19th Oct doesnt look good!
Tomorrow is 19th Oct and on the charts it seems that correction is heading on this day.This post is being made after today's market close,although i was a little lazy in posting this news 2-3days back, as i did the analysis around that time, but still i think it could be of some use to those late exiters.
According to Fibonacci Time extension, I have tried to find out the nearest or next lowest low which could be made in the coming future and on which date, the date came out to be 19th Oct, which is surprisingly tomorrow and is a friday, and logically 22nd Oct is the date on which a political news is awaited, and 22nd Oct is a monday,nobody likes uncertainity and same is market,no one wants to keep stocks at home when a very important news is going to come on 22nd Oct,therfore Friday 19th Oct,which is tomorrow is an important day to exit from the market, if some good news comes out or a rumour comes out tomorrow, then things can change and a huge rally is also possible, so tomorrow is an important day to watch out.
Personally, my view says that we should exit at these levels.
According to Fibonacci Time extension, I have tried to find out the nearest or next lowest low which could be made in the coming future and on which date, the date came out to be 19th Oct, which is surprisingly tomorrow and is a friday, and logically 22nd Oct is the date on which a political news is awaited, and 22nd Oct is a monday,nobody likes uncertainity and same is market,no one wants to keep stocks at home when a very important news is going to come on 22nd Oct,therfore Friday 19th Oct,which is tomorrow is an important day to exit from the market, if some good news comes out or a rumour comes out tomorrow, then things can change and a huge rally is also possible, so tomorrow is an important day to watch out.
Personally, my view says that we should exit at these levels.
Wednesday, October 3, 2007
DLF first target of 908!
DLF has a first target of Rs908, which is a very strong resistance for it right now.Looking very good in charts. Volume are looking very good as well. Above 908 our next target will be nearly 970 which is possible on any day from now.
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