iCharts Discussions

skd2012 · Yellow Belt Joined: 03 Oct 2012 Posts: 948

It has taken out pivot and yesterday's high 5658.8 NF. Its a good sign for upmove.

shashangan · Posted: Thu Mar 28, 2013 3:25 pm Post subject:

Right, I expected 5690-95 April & thought the upside may continue only by Monday.

Anyway we need to be cautious with both Longs & Shorts. Carrying positions could be very dicey.

Thanks
Gautham Shashangan

shashangan · Posted: Tue Apr 02, 2013 10:16 am Post subject:

Guessing around 5695 on the lows & around 5740 on the highs could be the range till 11.30 (NF). Can be wrong

Regards,
Gautham Shashangan

shashangan · Posted: Wed Apr 03, 2013 10:20 am Post subject:

If I am not wrong - Around max 5775 High & Around max 5735 Lows could be the range till 1 pm for April.

Thanks
Gautham Shashangan

shashangan · Posted: Wed Apr 03, 2013 9:47 pm Post subject:

I have been holding back for few days to tell what I am feeling. Anyway the movements so far is slowly indicating towards what I am thinking could come true.

what I am feeling is probably the upside is over & Mkt looks like targeting minimum 5405 followed by 5360. A strong break or close below 5600 is confirmation according to me.

I have just been quiet & not taking any entries since I was myself skeptic to put my hands in the blazing fire. So Take care, Dont carry positions & dont play if you are not sure.

Two places to watch is 5520 & 5140 where it can reverse if bullish trend still exists.

If it fails, I dont want to scare you, since it's little too early, but just to caution & prepare for a possibility, am adding it, so you know what's coming. I could be one of the few guys who would be saying this, probably one of the first. Well around 4765 could be the overall target. I may change my view if it deviates.

Will update as it gets clearer. It's just my feeling, I know this post will shock many & put you in a dilemma, I can be totally wrong. It's not necessary I should come right. This post can confuse & send a shiver in your spine. Ignore it & KINDLY DO YOUR OWN ANALYSIS The profit you make is yours, so will be your losses.

Good luck & Thanks
Gautham Shashangan

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

Dear Gautham,

Atleast I am not scared. I don't know about others. I appreciate your boldness instead. The markets took U turn from more or less 4530 (Nifty spot) levels and peaked at 6112. The 80% fibonacci retracement level comes to 4846.4 (my target) - quite near to your target.

Looking at certain developments like reduced GDP growth, high inflation, global factors, political uncertainties in India and also the way by which Nifty lost the gain of 3-4 days in one session only, either my target or your target may be achieved. It may not happen in this series. I am not sure when this target may be reached. It may not reach also. Let's watch price movements for confirmation. Market's verdict is final.

Best regards,
channasri

shashangan · Posted: Wed Apr 03, 2013 11:04 pm Post subject:

Right Channasri,

I am even scared to give the time. If mkt crashes it can crash like a sad sight, something unbelievable happening right in front of your eyes & you are just watching it in state of shock & disbelief to even react. You just stay there awe-stuck praying Oh God No! Oh God No! And by the time you come to terms with what's happening it's all over.

I dont want to sound over confident yet. Let it break 5600 first. I am just showing you the picture which is unfolding in my mind. Be prepared for the game if it happens. There will be a heap of wounded soldiers scattered all around, like the Hiroshima, Nagasaki bombing. It's a game. I could be right I could be wrong.

Let's see.

Regards,
Gautham Shashangan

SUNIL_PATIL_34 · White Belt Joined: 29 Sep 2009 Posts: 72

hiii shashangan
market may correct upto 5200 level nifty head n shoulder formation whats u r view

skd2012 · Yellow Belt Joined: 03 Oct 2012 Posts: 948

shashangan, we do not worry much about market crash. it may happen or it may not happen...you are right, if it happens most of us will see...no problem in that as long as we do not have any stake....however after a crash market will give many relatively less risky (in true sense no trade has less risk) trading opportunities. Uncertainties are there specially Govt falls. I feel this is bigger risk than war etc. Anyway yesterday market has given sign that it wants to be in down trend. How far and how long no one knows. But there is nothing to be in panic!!!

Hope you update your views everyday.

shashangan · Posted: Thu Apr 04, 2013 9:43 am Post subject:

You are right Das,

But generally I have seen when mkt falls, lot of people are crying, even lot of brokers are out of business & shut down since many of their investors have lost money.

Definitely, It will only affect a person who's caught on the wrong side, in this case the Long side. The only reason I have slightly dramatized the view is to caution the longs or somebody who may take a new entry & get caught.

If you know there is a possibility of a crash you will be careful when you take a long entry or at least you put a stop. That was the purpose. I see many people are struggling to understand how the mkt will be for the day, for the week & the overall for the next few months. I am giving the picture since people will definitely be stuck if fall starts & too their bad luck if the targets meet in less than 2 months, they dont get opportunity to exit, since many days it may gap down & not even see the open price.

I just posted my long term view so people can plan their entry, even clear up thier stock portfolio which is in profit, so they can buy the stocks lower & their money is put to work than having it blocked in negative. More than me being happy, each trader will be happy they didnt get caught in the trend, since they got the signal it's coming.

Anyway let's see. It's just my view also it's not necessary I need to be right.

Good luck
Gautham Shashangan

shashangan · Posted: Thu Apr 04, 2013 9:53 am Post subject: Re: hiii

It's not a proper H&S, but yes possibly it can get to 5200. It needs to strongly go through 5600 & stay below for the rest of the week then it can mostly.

Thanks
Gautham Shashangan

shashangan · Posted: Thu Apr 04, 2013 11:02 am Post subject:

Just guessing - 5655- 59 on the highs & 5620 on the lows could be the range till 1.15 pm.

I am stepping out for a meeting. See you later.

Regards,
Gautham Shashangan

skd2012 · Yellow Belt Joined: 03 Oct 2012 Posts: 948

Hope you keep sharing your views regularly.

shashangan · Posted: Thu Apr 04, 2013 7:22 pm Post subject:

Well Das, I am trying my best to take time to track the mkt, when I am in office, but when I have training or meetings, I cant help it & I am not a gadget whiz, I am allergic to typing & browsing on phones unless emergency.

As of now I need to run around here & there, which doesn't make me indulged in the mkt & I prefer it that way. I don't like to be glued to the screen continuously.

No issues till July. After July through to year end I could get a little busy with some professional & personal trips which is in the pipeline. I have lot of other plans for next few years, it's very early. I don't want to say & it doesn't happen. I will anyway be posting if I am taking a break. For now it's ok.

I am passionate about the mkt & the little knowledge, so I share it for keeping in touch with mkt. It's a nice feeling to get your calls right.

Thanks anyway.
Gautham Shashangan

shashangan · Posted: Thu Apr 04, 2013 7:31 pm Post subject:

Regarding Nifty Mkt need to make a very strong pull back to bring back bullish hope. It needs to close above 5715 first & then go strongly through 5845 for it to regain bullish momentum which at this moment looks unlikely.

It has managed to marginally close below 5600. If tomorrow also if it closes below or lower than 5595, then it's possibly the confirmation for fall in next week.

Let's see what happens tomorrow.

Good luck
Gautham Shashangan