Nifty could to touch 5140!

I expect a big bounce to a level which very few people might agree with me at such times, but the patterns and divergences i am seeing on nifty show that worst is nearly over and we should see some good times ahead(for those who are stuck at higher levels) and some recovery, cannot be over ruled at these times.
Nifty is showing very strong positive divergences which can lead to an intermediate uptrend till 5120-5140 levels which is a strong resistance range for it currently, we nearly managed to touch the previous low of 4420 on nifty future, nifty touched a low of 4476 on 17th March, and now if this low is maintained then a bounce back in green is not far away.
I would be the first person to buy these stocks tomorrow when market will open and buy around 10:20am, reliance,sail,tatasteel(my tgt is 730-740), reliance energy,acc.

Best of Luck!

Dow Jones, can soon give a bounce back!

I expect a bounce back on Dow jones industrial average very soon as its showing signs of oversold and +ve divergence which may take it back to 12100+ levels, although this bounce will not be very strong and i expect a rangebound to +ve market from here, it may be good for our markets as we need to maintain the current levels to get a bounce back,otherwise will are heading straight to 4400 level on nifty.
Considering that these days DOW JONES is moving our markets and Sensex+Nifty are dancing to the tunes of Dow Jones, we should also see some recovery in coming days.
On the whole short selling is not advised!

Are we heading towards 5050?

Yes! this is quite possible now on the basis of technical charts, nifty is showing some reversal patterns and the good news is that MACD is showing a +ve divergence which could further support the upside on nifty and we see a technical bounce this week itself, but above 5050,the main hurdle will be to cross 5120, from where correction could be seen and we could see further lower levels.
That is a future view, but presently I see a technical bounce soon this week itself, which will take Nifty to 5050 level atleast.Reliance,Ongc,ICICIbank,sbi,DLF these stocks will rally the most,and not to mention the midcaps.
Nifty should maintain the higher level of 4800 to get this bounce,otherwise we could consider yesterday's rally as a short covering only.
I advise visitors/users of this blog to buy March 5200 call of Nifty which is currently around Rs32-33, my target is roughly 150 on it.

Ape the West, leave the rest!

Indians like to follow the western countries and that is what our stock market is also doing, When DOW is down, Nifty is down as well, when Dow is up, Nifty is Up too, what a nice gesture!
One cannot do anything in this case, as the number of FII's have increased their exposure to our markets and when they exit from foreign markets they exit from our market as well, and vice versa.
As I posted last time that Dow closing will give the guidance not the budget, the same thing happened very much on monday, market crashed! This is the impact of Dow, our market fell like a rock from the cliff.
4740 is the last support which if broken then 4400, and below 4400 we will see 4000, which is right now looking quote far away, but could be tested if DOW jones does the Bunjee Jumping!