Monday, September 14, 2009

Sensex Alternate count

Sensex Alternate count

Sensex still looks to be in complex mode. Wave patterns are not clear
If our alternate count has to be considered as preferred we should start a rally soon
Lets wait for a day or 2 more to adopt a preferred count. There are couple of equally probable scenarios right now

Hindalco had a decent rally after breaking out of triangular patter. If you had gone long as suggested by us in our previous blog last week, you would have earned 7% return in just 3 days!
Please book your partial profits at current levels
Use a stop loss of 117 for a target of 131 for remaining positions
Time cycles also suggest we are nearby or forming a peak this week

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