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IS IT A CORRECTION ???????????? |
rajannt1980
White Belt
Joined: 06 Jan 2012
Posts: 29
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Post: #1  Posted: Thu Mar 29, 2012 11:04 am Post subject: IS IT A CORRECTION ???????????? |
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LOW OF DECMBER 20 - 2011 : 4531
HIGH OF FEB 22 - 2012 : 5629.95
SO 5080 IS 50 % RETRACEMENT
TODAYS LOW 5139.45
SO ITS BETTER TO WAIT TILL 5080 OR ADD LONGS TILL 5080 WITH STOPLOSS BELOW 5080
ANY COMMENTS U R WELCOME
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amitvjog
White Belt
Joined: 21 Mar 2011
Posts: 80
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| Post: #2 Posted: Thu Mar 29, 2012 4:36 pm Post subject: |
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Yes, I think keeping keeping 5080 as Strict SL and take Long positions is a good idea. Tommorow It can try to touch 5080 and then short coverings as well as new longs will be seen and upward movement can be upto 5200.
Hope so!
Amit  |
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ajayhkaul
Yellow Belt
Joined: 18 Jun 2009
Posts: 866
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| Post: #3 Posted: Thu Mar 29, 2012 6:06 pm Post subject: Re: IS IT A CORRECTION ???????????? |
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| rajannt1980 wrote: | LOW OF DECMBER 20 - 2011 : 4531
HIGH OF FEB 22 - 2012 : 5629.95
SO 5080 IS 50 % RETRACEMENT
TODAYS LOW 5139.45
SO ITS BETTER TO WAIT TILL 5080 OR ADD LONGS TILL 5080 WITH STOPLOSS BELOW 5080
ANY COMMENTS U R WELCOME
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If it slides further , why 50%? It can go down 62% fib also on weakness.
Any level below 200dma is weak .Additionally we need 5400 NS to see good moves. Down moves and up moves require strong CATALYSTs . RBI rate cut will be bullish for example. Spain crash etc will be bearish catalyst. and so on. |
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