iCharts Discussions

[shashangan]

Nifty has made a strong close yesterday (Tuesday- 19th June) & also has taken out some stops on the upper side to target 4270 followed by 4290/95 around. Mkt still looks overall bearish as of now & has got a bit confusing. But unless the mkt is able to break the previous top 4362 strongly (sorry mistake 4262 in previous msg), you can still expect some consolidation near 4300 & sell offs probably from 4320/40 levels. Longs stay cautios from 4320 levels. shorts can enter @ 4320/40 with a stop @ 4380 for now.
Call << REMOVED >> if you are in Bangalore, or add me on my yahoo messenger with this id << REMOVED >> for further discussion online.
regards,
Gautham Shashangan

[shashangan]

mkt may correct to 4225- 4210 for now. there could be one more run to 4270 after this correction. possibly after 2 pm today the mkt might reverse up. let's watch for now it's correcting. I will update on the developments.

[shashangan]

[shashangan]

Mkt closed negative. It's a good sign for the overall bears, though mkt will go up marginally next week to near 4320 area on spot basis. The mkt i think will slowly crawl higher. I dont feel any sharp rally next week. I think it will be wise for longs to book profit near 4290 area according to spot Nifty. 4320 spot might be a good area to short, but i will confirm the levels & trend next week seeing the movement in mkt.
Call me on << REMOVED >> if you are in Bangalore or add me on yahoo messenger with my id - << REMOVED >>, if you need further discussion.
regards,
Gautham Shashangan

[shashangan]

Mkt has reached my minimum target as mentioned. Anyway longs stay cautious. The mkt is bound to top out tomorrow or thursday. I think 4310-30 area can be short for medium term for a good correction of possibly 80-100 points fall to a minimum target of 4220 around. I will confirm the down side target & exact entry point with the mkt development tomorrow. There is a possiblity of mkt being quiet in a range for few days also.

[shashangan]

The mkt just moving as i mentioned. My view remains same. There could be a higher move near the open possibly tomorrow. I will short Nifty spot basis 4310 around for a fall to 4220 around minimum. The mkt can possibly target 4025 & 3840 also. i will confirm it in the days to come if the fall will only be a small correction for a bigger move up or it's a medium term reversal. Anyway stay cautiosly long.

14320 & 14170 is the immediate targets for Sensex. 13735 & 13190 could be overall Sensex target which also i will confirm with mkt movement in next few days.

Add me on yahoo messenger with my id << REMOVED >> for any further clarifications.

regards,
Gautham shashangan
+91 << REMOVED >>

[rsnagesh]

Dear sir ,

As per your views 4320 in nifty has come now but in the case of sensex it closed with upward bias. moreover sensex has broken the high close of 14652.09 on an intraday basis today and closed at 14650.51. What I am presuming is once the sensex takeout 14652.09 and 14723.88 on a closing basis one can expect a minimum upside of 15362.16 and correspondingly in cash nifty to an extent of 4480.30 , 4518.41 and 4553.05 thereafter only one can expect a correction based on current fundamentals mixed with technicals with a proportion of 10:90 in terms of percentage sir. thereafter it can come down to an extent of 4146.91 and 4113.68. Suppose, if the cash nifty breaks 4113.68 on a closing basis then one can not avoid the low close of 3902 sir. As far as cash sensex is concerned it can hit between 15452.95 and 15591.86 as maximum and the bottom levels are projected at 13963.24, 13829.98 and the final levels could be between 12940 to 12981.15. thats all for the forecast sir. At the same time for the long term nifty and sensex can hit 5296.26 and 19114.61 which is intact sir. Probably it could be in the year 2008 sir!! I am expecting this could happen on or before the budget day 29th February 2008 sir!!!!!

Note.: The above views are based on fundamentals and technicals with a proportion of 10:90 ratio.

With regards,

(R.S. NAGESH)

[shashangan]

A good arguement Nagesh. I appreciate the comment. Possibly you could be right Nagesh. But i still strongly believe there has to be a fall. If you see the older posts, i have mentioned 4320-4340 can be the target according to Nifty Spot. There could be a extension of the trend on Monday, since the mkt closed very strong on Friday. I still recommend Shorts here with a stop around 4380-4400. I feel the mkt will struggle to break the previous high 4263 around. I feel there should be a close lower with a minimum target near 4220 & possibly a extention if the bear is confirmed to 4030-25 around. I cant say right now of the bigger bear trend. I will confirm it with the development next week. I could be wrong, but its the way i analyse & my gut feeling. I always try & predict the reversal before anybody starts telling the mkt is now reversed. Anyway let's see what happens.

Regarding Sensex i would say it's not so accurate like Nifty. The moves in Sensex is more based on Nifty. So a fraction of error can be considered, but the trend i recommend is same.
14325-20 still is my minimum lower target with 13750 around the possible target. Mkt may extend a bit more higher. Possibly both Nifty & Sensex can be higher near Mkt open on Monday since mkt closed very strong on friday, but i still feel there could be a negative close on Monday

Anyway it's good to have arguments & debate, it makes the posts more interesting & competative. It always helps a individual to do better. I appreciate your view Nagesh. Keep it up.

Regards,
Gautham Shashangan