iCharts Discussions

[amitagg]

from Reading of Sahil's thread and Vinay's comment on overall bullishness and EW counts [own analysis]

markets "shall reverse [read : high probability]" to "Down" around 8/1/014 - gann day...if it rises "slowly to 6360 [or may be unlikely though to 6415]

given mutliple resistances at

6357 - monthly resistance
6260- top of gap
6339-6343 : previous JT number and other confluences

shall look to add "puts" around 6325-6260.

......if 6325 does not break and 6283 breaks, then be very cautius indeed.....
pls note that calls are not moving higher over a weekly time frame or so.....vix is down and "wait" for vix to rise to have a more trending market.....

dont expect 6500 in Jan 2013 entirely.... since for me 5th extended shall be complete little above 6415 even if rises above 6360....

then fall to 6150 or 6030 or 5790 or 5920.......

then rise to 6700-7300-7800 over February - July 2014....

this is not estimate but EW time and price targets....though approx.

so while i maintain bullish view for next year.....one wave and last wave down is pending.......

pls watch carefully the above...happy trading in new year!!!

[vinay28]

I feel 6500NF is possible and so is 6200 in Jan. 16/01 could be turnaround day.

[saumya12]

[amitagg]

Thanks Vinay / Saumya,
I shall take full note.
Rgs

[amitagg]

with my view of sideways to down view or slow rise only, sold 6400 call at 94.....believe a good risk reward.....shall update later

[amitagg]

would expect markets to slide to 6268 now.....wherein shorts should cover if not partially at 6284

[amitagg]

cox bought in cash at 111...see the rising volumes and moving average crossover....shall exit when better opportunities come by....target and stop loss choose as per any self method

[vinay28]

[amitagg]

[amitagg]

[amitagg]

bought Bombay dyeing at 76.....in cash ..stop 70...target 85+

[amitagg]

bought Jain Irrigation futures @ 74

[amitagg]

bought joti structures at 30.....watch the rising volumes and 5 year chart.....

have over the past days, traded for profit [hit and run -when up 4-5%],

- gati [ 10% profit in one day.....up "further" over 20% in two days since i exited]
- ruchi soya [10% profit in one day]
- cox and kings [5% profit in one day]
- bombay dyeing [2% profit in one day]
- tvs [on downside] - risky
-NOW jyoti structures..

[amitagg]

have exited jain irrigation at nominal loss

as well as watching Lovable for upside trade above 298....bid placed for buying above 298....an early entrant for upsides if materialised and good spike pattern today....need to consolidate sideways for more confirmation.

[amitagg]

booked 3-4% profit in Jyoti structures in one day and

now entered Elder Pharma at 252....target 275....but shall book earlier....a good reversal happening