nifty & vix

Dear Friends

My cogitation is that market cannot sustain above the 2900-2960 level or at the most 3050 + up the trend line level. And then it will fall drastically to 2200 level.

LOOK AT THE INDEX MAJORS RELIENCE DAILY WEEKLY &MONTHLY WEEKLY MONTHLY ONGC

SBI

INFY

sensex_weekend view

FARTHEST BEARISH Target could be around 6800_6500 by early march. But of course there will be some bounce/ pullbacks as usual unfolds. In one of my earlier post I mentioned that a bankruptcy filling by any karad/ kerala bank will fuel the fire in coming days. I was expecting something like that in bank sector especially in broking banks. But the scandal came out tru satyam. We may hear more such episode as an ugly.Bears get matured and give up the ghost. Be cautious in yur trade. The bullish sign may not deliver much gain. But you can expect more in a bearish sign in the bear market. That is what the seniors say GO WITH THE TREND

Next fall is imminent

It is quiet accepted among TA’s that a bullish sign will not give good gain in a bear market, Where as a bearish sign will have strong impact in the price movement. That is what we have seen here in the last two uptrend marked with RSI channels, and of course there was three down trends breakout too ,from jan 08, but that didn’t make substantial gain. I am expecting the current break out (confirmed) from the up trend channel / triangle will take the sensex to the mach awaited 6800 level by early march. Todays high was 9387.60 and the index is +170 points at the time of posting this blog. I was on an mid time vacation in DEC: and was so bored to make any posts. Any way I will refrain to post in groups to avoid blare which misplace my valuable time.