MARKET ANALYSIS FOR 22ND SEP 2009

MARKET STILL SEEMS TO BE IN THE 3RD WAVE OF THE ENDING DIAGONAL TRIANGLE, THE TARGET OF 5050 ON NIFTY STILL LOOKS ACHIEVABLE, EITHER WE CORRECT THIS WEEK COMPLETING THE TARGET OF 5050 OR 5000 ON NIFTY COULD BE THE END OF THE 3RD WAVE, WE WOULD KNOW THIS IN THIS COMING WEEK.

IS THE MARKET GOING TO CORRECT OR NOT?, WHY SO LONG?

YES, THE MARKET IS TAKING MUCH MORE TIME IN EVERY RALLY AND CORRECTIVE DOWNFALL, ENDING DIAGONAL TRIANGLES ALWAYS TEST OUR PATIENCE, ITS A TIME CONSUMING PATTERN WITH NOT MUCH MOVEMENTS AT TIMES. SO WE OUGHT TO WAIT TO SEE THE NEXT FEW DAYS WHETHER WE R STILL IN THE 3RD WAVE OF THE TRIANGLE OR WILL WE GET A 4TH WAVE CORRECTION. THE OTHER OPTION BEING THAT THIS UPMOVE COULD BE THE 5TH WAVE OF THE TRIANGLE. WE WOULD KNOW IN FEW DAYS TIME.

WHEN WILL THE MARKET CORRECT, THAT IS THE BIG QUESTION ON EVERYBODYS MIND?

IS THIS GOING TO BE A 4TH WAVE CORRECTION OF THE ENDING DIAGONAL TRIANGLE OR DO WE COMPLETE A 5TH WAVE OF THE TRIANGLE IN THIS UPMOVE, WELL A CORRECTION STILL NEEDS TO COME EITHER WAYS, SO EXPECT IT ANYTIME, IT COULD BE TMRW, DAYAFTER OR STARTING FROM MONDAY, U GOT TO BE ON YOUR GUARD, BE CAREFUL WITH YOUR LONGS, TAKE MY WORD, THE MARKET IS SURELY GOING TO CORRECT.

NIFTY RESISTANCE!!

AS SHARED EARLIER 4820-4840 BEING THE FIRST RESISTANCE FOR NIFTY IS TURNING OUT TO BE A STIFF RESISTANCE, THE MAX TARGET THAT I HAVE PUT WAS 4880-4890, WE SHOULD SEE A CORRECTION SOON.

FREE TIPS

RELIANCE COMPLETED ITS TARGET IN OUR FREE TIP SECTION GIVEN EARLIER AT 2020-2030

TARGET AND RESISTANCE FOR NIFTY FOR 8TH SEPTEMBER 2009

1ST TGT 4820-4840
2ND TGT 4880-4890

WHAT IS HAPPENING WITH THE MARKET IS THE QUESTION IN EVERYBODYS MIND?

JUST AS SHARED EARLIER WE HAVE A CONFIRMED SCENARIO 2 SHARED EARLIER IN THIS BLOG WHICH IS THAT WE R FORMING AN ENDING DIAGONAL TRIANGLE, BUT WHERE WE R IN THE ENDING DIAGONAL TRIANGLE IS A BIG QUESTION RIGHT NOW?, WE RIGHT NOW R IN 2 SITUATIONS IN THIS FORMATION OF ENDING DIAGONAL TRIANGLE, ONE IS EITHER WE R IN THE LAST UPMOVE OF THIS TRIANGLE OR WE R EXPECTING A CORRECTION AFTER THIS UPMOVE AND THEN THERE IS A LAST UPMOVE LEFT.


THIS IS A CHART SHOWING THAT WE R IN THE 3RD WAVE OF THE 5 WAVE TRIANGLE IN WHICH A LAST UPMOVE WOULD BE PENDING AFTER THIS UPMOVE IS OVER AND A CORRECTION AFTER THIS THEN A LAST UPMOVE, IN THIS PATTERN FORMATION BELOW TIME WISE 8/9TH SEP 2009 WOULD JUST ALOW A CORRECTION FOR THE 4TH WAVE:



THE CHART BELOW SHOWS US THE SITUATION WHERE WE COULD BE IN THE LAST UPMOVE OF THIS TRIANGLE AND THEN WE BREAKDOWN AFTER THAT:

FREE TIPS

ONLY RELIANCE TRIGGERED A BUY CALL, HOLD IF YOU HAVE POSITION FOR A TARGET OF 2020-2030, WELSPUN GUJ AND GODREJ INDUSTRIES HAVE NOT YET TRIGGERED A BUY CALL, SO IF YOU DO NOT GET THE PRICES TO BUY THAT HAVE BEEN MENTIONED, JUST LEAVE THEM AS IT IS, BECAUSE GODREJ COULD HAVE SEEMED TO HAVE TAKEN SUPPORT AROUND 174-176, AND WELSPUN BETWEEN 228-231, BUT WE STILL NEET TO WATCH THEM IF THEY FALL IN THE SECOND HALF OF TRADING SESESSION OF FRIDAY OR MONDAY MORNING, IF THEY DONT GIVE YOU A BUY SIGNAL AT THE PRICE MENTIONED, JUST LEAVE THEM AND GO ALONG WITH RELIANCE INDUSTRIES AS FOR NOW.

STOCKS TO BUY FOR 3-4TH &7th SEPTEMBER 2009

POSITIONAL TRADING.

BUY RELIANCE BETWEEN 1900-1930 TGT 2020-2030 SL 1870
BUY WELSPUN GUJARAT BETWEEN 218-222 TGT 250 SL 208
BUY GODREJ INDS BETWEEN 163-167 TGT 185-190 SL 153

**WORD OF CAUTION** STOPLOSS SHOULD ALWAYS BE CONSIDERED MORE ON A CLOSING PRICE THAN AN INTRADAY SWING, IF YOU ARE SURE THE STOCK IS GOING TO CLOSE AROUND THE SAME PRICE OF STOPLOSS OR BELOW IT, THEN YOU SHOULD BE SURE ENOUGH TO EXIT THE STOCK.

DOES 9TH SEPTEMBER SPEAK ANYTHING IN TERMS OF TIME THEORY FOR SENSEX,NIFTY?

DOES 9TH SEPTEMBER SPEAK ANYTHING IN TERMS OF TIME THEORY FOR SENSEX,NIFTY?, YES IT DOES, IT WAS 9TH MARCH 2009, THAT OUR BOTTOM WAS MADE BEFORE THE UPTREND, ACCORDYING TO GANN A CHANGE OF TREND DO COME AT THE END OF 26 WEEKS, 6 MONTHS, ALRIGHT, WHAT DOES THAT MEAN?, WE FINISH EXACTLY 26 WEEKS AND 6 MONTHS ON 9TH SEPTEMBER, AND GUESS WHAT WE MADE OUR LAST UPTREND IN THE LAST BULL RUN UPTO 21000 ON 9TH JAN 2008, IT WAS FROM 10TH JAN2008 THAT WE STARTED FALLING.THE NUMBER 9 IS QUITE SIGNIFICANT TO OUR MARKET, WE FINISH 210 TRADING DAYS FROM OCTOBER LOW, 183 CALENDAR DAYS FROM 9TH MARCH 2009 LOW,26 WEEKS,6 MONTHS, CAN A DATE AROUND 9TH SEPTEMBER BE A TURNAROUND DATE, MAYBE 8TH,9TH,10TH OR 11TH.

WHEN WILL THE DOW FALL, WHEN IS THE CHANGE IN TREND?

WE HAVE BEEN WAITING SINCE MID AUGUST 2009 FOR A CHANGE IN TREND OF THE DOW JONES, WHEN WILL IT HAPPEN?, FIRST OR SECOND WEEK OF SEPTEMBER. WE R STILL IN AN EXPANDING BEARISH TRIANGLE, THE TOPPING PROCESS IN THE DOW JONES HAS TAKEN MUCH MORE TIME THAN EXPECTED, BUT THAT DOESNOT CHANGE OUR FORECAST FOR A BAD US MARKET IN COMING MONTHS!!