Bottom Line: Sensex and Nifty has reversed from crucial resistance level of downward sloping trendline of entire 2011. Important resistance lines are usually taken out with Gaps and failure of prices to rally above this might indicate weakness in current week.
For the first time in this entire move up from 4700 to 5200 we are seeing a big Gap down opening and if Nifty fails to cover the gap today or by tomorrow it will indicate correction of entire uptrend has started. Please cover your long positions at current level and reinitiate only above 5225. Break of 5100 will confirm short term downtrend and shorts can be built below 5100.
Waves Capital: Published at 11:45 pm to subscribers
http://www.wavescapital.com/, Email: helpdesk@wavescapital.com
For the first time in this entire move up from 4700 to 5200 we are seeing a big Gap down opening and if Nifty fails to cover the gap today or by tomorrow it will indicate correction of entire uptrend has started. Please cover your long positions at current level and reinitiate only above 5225. Break of 5100 will confirm short term downtrend and shorts can be built below 5100.
Waves Capital: Published at 11:45 pm to subscribers
http://www.wavescapital.com/, Email: helpdesk@wavescapital.com
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how deep due you expect the correction to be???what are ur expected values
ReplyDeletelooks like we are in triangle formation....
ReplyDeleteWhipsaw peaks from 5400-5100=40D,5400-4800=40+50%of 40=60D, So nxt is 90D(26jan) SgX Nifty (5238)high.Ur views?.All Time ratios of 08 are working well.New lows by 22-23Feb.@vi
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