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[amitt29]

Hi all,
The markets tries to prove everyone wrong,and nobody can be ahead or behind the the markets.Just when last thursday everyone was gungho abt fed policies,boom came the market down.Crushing all new longs.And again today after being in the red by over 200 points,it just unleashed the beast to decimate new shorts.And triggered by short covering or new buying,the market held just shi of 3000.Keeping everyone guessing.I had mentioned 2-3 posts back of 2896-2870 and 2856.Because i cudnt see further downside.And markets bounced from 2878.Well i allow myself 8 points.Aim for the heart and hit the head.
Another interesting close,and again a slip can cause pain.It will need to hold consistently above 3006 to see more upside.3006-3023-3039 will be upside levels.
2977-2953-2947.
To mantain this upmove it needs to mantain sanctity of todays high.
Regards
Amit.

 

[kuldeep49]

And markets bounced from 2878.Well i allow myself 8 points.Aim for the heart and hit the head.

As long as the nail hits! Amit. It was an interesting day indeed.

 

[amitt29]

Hi Kuldeep yeah as long as the nail hits.

 

[amitt29]

Hi,
Backed by global cues,especially DOW overnight,what a good move.
But again the risk reward is less and biased against risks.Makes for pretty interesting 2 days b4 expiry.Again it needs to hold on to 3040,gap down can cause heartburn.
To maintain this upmove Nifty needs to go up by 3045-3056-3065-3075.
The downsides to hold are 3023-3006-2977-2953.
Pretty interesting 2 days coming up.
Fasten ur seatbelts.
regards
Amit.

 

[amitt29]

Hi,
A quick update
3075 was approached but it didnt held,Also 3023 gave a good platform to bounce back.Its important now that 3040 is not breached intraday,so if theis upmove has to continue then 3075 must be held and then 3082.Closing above 3056-3075 wud enable it to test 3118 in the coming days.
Regards

 

[amitt29]

Wow,
Speak of the devil and it arrives,it successfuly breached 3118.And here i was thinking of tomorrow. Kal ki soche aaj kar say our elders.
And we are moving out of the realms of being guided by global cues.Thats really good news.
Just fasten ur seat belts folks.We r in for the ride of our lives.
regards
Amit

 

[kuldeep49]

Just fasten ur seat belts folks.We r in for the ride of our lives.
regards
Amit

Hi Amit,
Where are the hurdles placed on this race?

 

[amitt29]

Hi All,
this strong move if it has to hold can go upto 3118-3125-3135-3150.
Its imperative that now 3100-3090-3083 are held in good stead.
Regards
Amit.

 

[sankar ghosh]

Hi Ashishji,
Here is the chart.Of course u will see some discrepancy beacuse I use the neely method of plttin price but nevertheless real high shud be in range of 3124.I will wait for ur comments.
Regards.
Amit

This may be a 123 formation for break out.
sankarghosh

 

[amitt29]

Hi all,
Tremendous movement,on a settlement day.It has taken answered the question posed by the 5 continuos down days in a resounding way and has also moved out of the influence of global markets.Very good going.
Immediate targets from here are 3175-3185-3193-3201 and the high at 3208 if it has enuff steam left for tomorrow.Then it will be again in uncharted territory which it had abandoned long time ago in May.
So a bit of caution must be exercised here,as risk is unlimited and rewards less.Keeping tight s/l and trailing ones will be most useful.As i have always mantained discipline is more rewarding than technique and flexibility the name of the game.
The downside to protect wud be 3156-3137-3118-3085-3065-3056-3045.
That shud do it.
Brace urself again.
Regards
Amit.