iCharts Discussions

MILANCHN · White Belt Joined: 12 Mar 2009 Posts: 105

Shahshangan-

me from Kochi-
is it market related-training programe ?

shashangan · Posted: Tue May 14, 2013 12:51 pm Post subject:

Hey Milan

Not really. I am training TVS Motors. I am a certified Product trainer for TVS Motors. I am training them on bikes & sales related.

I think the program is at their Edapally office. I must be staying at Kaloor Gokulam Park. Not sure, Will know by evening.

Thanks
Gautham Shashangan

beowulf · White Belt Joined: 18 Aug 2010 Posts: 163

Hi Gautham,
Thanks for the great numbers (as always)...nifty flirting with 6000 but trending down...

Would you recommend going short at these levels...

Have a successful trip...

Beo

shashangan · Posted: Tue May 14, 2013 1:01 pm Post subject:

Beo, You can try with tight stop if you want, 6021 or 26 stop.

I normally enter at high or low, dont enter in between.

But it's gone through intra day 6009 so can fall

Thanks for your wishes
Gautham Shashangan

shashangan · Posted: Tue May 14, 2013 1:28 pm Post subject:

Good luck Enjoy your week ahead.

Happy Trading.

See you next week friends,

Thanks & Regards,
Gautham Shashangan

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805

shashangan · Posted: Fri May 17, 2013 11:49 am Post subject:

For now 6146-6200 Range for May. Mkt may start up movement again probably after 1.30 pm today.

Stops below 6080.

Thanks
Gautham Shashangan

rsnerella · White Belt Joined: 30 Jul 2008 Posts: 153

Do you mean entire may with in this range?

shashangan · Posted: Fri May 17, 2013 5:53 pm Post subject:

I am sorry, I didn't mention stop for the short I recommended. 6078 the next resistance I had mentioned or 6103 above should have been stop.

I shall try & be there & update mkt from Monday.

Thanks
Gautham Shashangan

chennuru · White Belt Joined: 07 Jan 2011 Posts: 93

Nifty Fibano levels

shashangan · Posted: Sat May 18, 2013 12:34 am Post subject:

Hi Chennuru,

It's nice to see your views. Kindly also mention entry exit & stop also along with your views & projections.

Thanks
Gautham Shashangan

shashangan · Posted: Sat May 18, 2013 12:00 pm Post subject:

Positional longs need to keep a watch from 6203 - 6231 NF on Monday. I suspect a fall or a correction again.

Minimum target could be 6142-38.

Clear most of your stock portfolio. I remind again, the mkt is nearing a overall top for a major Reversal. Keep small exposures & dont carry long positions. The fall to follow will target minimum around 5400. Stay cautious.

Play minimum. Wait for highs to short than going long. Keep very thin long positions & If you long make sure to play with stops.

Shall update the entry & my view as it's clear.

Kindly do your own analysis also. I can be wrong.

Thanks
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

shashangan · Posted: Sat May 18, 2013 1:10 pm Post subject:

Well Vinay, it can happen if there are extensions.

NF 6270-80 region is the T/L resistance.

There can be a lot of profit booking.

Yes punters would want to send out the short term bears who would start entering from 6265, so they may push it up a bit to do some fishing of stops.

But the mkt is at the top. I doubt if they would have the guts to risk beyond 6300-10. This should be the actual target.

Generally if there is some mischief they want to do, to break this mindset of many people is by taking it beyond the T/L, the other is to sell off before it reaches the T/L. I can feel the latter for Monday. So I am mentioning stay cautious. It's not necessary it has to happen.

Keep in mind the mkt has moved up continuously for 5 weeks & If it reaches 6280-6300 it's 800+points up move. So according to me the mkt should not cross 6300/ 6315. Around that is the worst if it extends. 6300 would be a great short for medium to long term. Extensions are little difficult to get it pin point right. It may extend more. But I am giving my view what I feel possible. Do your own analysis too.

I may change my mind seeing the move later. But as of now I dont feel mkt has possibility to touch 6400+. These are just guessing based on my analysis. I can be wrong.

Thanks
Gautham Shashangan

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

I have posted some wave counts for Nifty spot in the paragraphs below. Request experts to correct me if I am wrong.

Wave 1 from 23-12-2011 (4531) to 24-2-2012 (5630) = 1099 points
Wave 2 from 24-2-2012 (5630) to 8-6-2012 (4770) = 860 points (78.3%
of Wave 1)
Wave 3 from 8-6-2013 (4770) to 1-2-2013 (6112) = 1342 points (122.1%
of Wave 1)
Wave 4 from 1-2-2013 (6112) to 12-4-2013 (5477) = 635 points (47.3%
of Wave 3) but breached Wave 1 territory.
Wave 5 is in progress since 12-4-2013.

Since Wave 3 cannot be the shortest, the highest level for Nifty spot can be 6819 i.e., 5477 + 1342 (length of Wave 3). The Fibonacci levels will thus come at 5786 (23%) - DONE, 5987 (38%) - DONE, 6148 (50%) - DONE, 6306 (61.2%) - PENDING, 6551 (80%) - PENDING.

The Wave 4 above has breached Wave 1. This should not happen. Hence, the alternative view is that we are still in WAVE 3 (if 6112 mentioned above is Sub Wave 3 of Wave 3 and 5477 is end of Sub Wave 4 of Wave 3). If so, end of this Sub Wave 5 will be marked by a huge Wave 4 all the way down. That should lead to a huge Wave 5 taking Nifty Spot beyond 7000.

My personal view is that crossing 6306 itself is tough for the May series. Let's wait and see. Market's verdict is final.

Regards,
channasri[/b]