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chandrujimrc
Brown Belt
Joined: 21 Apr 2009
Posts: 1683
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Post: #871  Posted: Thu Sep 19, 2013 8:46 pm Post subject: |
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Dear Rk,
Correction in the sense normal correction or any deep correction? |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #872 Posted: Thu Sep 19, 2013 9:21 pm Post subject: |
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| chandrujimrc wrote: | Dear Rk,
Correction in the sense normal correction or any deep correction? |
At this point of time we can say correction. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #873 Posted: Fri Sep 20, 2013 8:32 am Post subject: |
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| In all likelihood market (read as market makers) might have discounted credit policy action. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #874 Posted: Fri Sep 20, 2013 9:10 am Post subject: |
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| rk_a2003 wrote: | | In all likelihood market (read as market makers) might have discounted credit policy action. |
rk, I feel market first discounted rbi policy by a big rise and then surged more after fomc. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #875 Posted: Fri Sep 20, 2013 9:13 am Post subject: |
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| vinay28 wrote: | | rk_a2003 wrote: | | In all likelihood market (read as market makers) might have discounted credit policy action. |
rk, I feel market first discounted rbi policy by a big rise and then surged more after fomc. |
True,By the way it seems except you and me no one took delivery longs at Index low levels.What are you thinking of profit booking any plans?.I got an itching to wait till new highs or is it wise to book part profits?. |
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vinay28
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Joined: 24 Dec 2010
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #877 Posted: Sat Sep 21, 2013 10:36 pm Post subject: |
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In hindsight, The same can be said of the "exhaustion gap..." [3rd or 4th one] formed at 5850-5950 which was filled but close above 5908...sort of implied the "failure of the failed" downward movement to 5850 of the gap at 5950.....
so to navigate the future, the 5908 area shall be HIT [below 5925 support]...may be 5894 approx. [gap filled] and then... market will tell not predicting...!!!! |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #878 Posted: Sun Sep 22, 2013 1:26 am Post subject: |
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| JUST see the similarities in SF [2012] and Indian Index - breakout above 6200 after some countertrend move....see the three tops made before it breoke down and then it broke higher.... |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #879 Posted: Sun Sep 22, 2013 1:09 pm Post subject: |
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Good comparison, Amit
But I have my own reason, to visualise that NIFTY may cross 6700-6800 in near future.
Though the picture is not very clear still, I think, it may take a clear shape in next 8-10 days (or may be more). |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #880 Posted: Sun Sep 22, 2013 4:28 pm Post subject: |
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| amitagg wrote: | | JUST see the similarities in SF [2012] and Indian Index - breakout above 6200 after some countertrend move....see the three tops made before it breoke down and then it broke higher.... |
The biggest difference is the time taken for the third attempt. It is considered vital by those believe in "time" concept of markets. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #881 Posted: Sun Sep 22, 2013 6:19 pm Post subject: |
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| *tip toes around* |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #882 Posted: Sun Sep 22, 2013 7:11 pm Post subject: |
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Saumya,
For benefit of others, pls elaborate in brief your basis and what u are looking out for in next 6-8 days.
Thanks |
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arvindeept
White Belt
Joined: 25 Jun 2012
Posts: 107
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| Post: #883 Posted: Mon Sep 23, 2013 6:10 am Post subject: |
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| amitagg wrote: | Saumya,
For benefit of others, pls elaborate in brief your basis and what u are looking out for in next 6-8 days.
Thanks |
GDP growth rate at 4 %, usdinr going for all time high and dwindling forex reserves.............and we still deserve a new high!!!!! |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #884 Posted: Mon Sep 23, 2013 7:01 am Post subject: |
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| arvindeept wrote: | | amitagg wrote: | Saumya,
For benefit of others, pls elaborate in brief your basis and what u are looking out for in next 6-8 days.
Thanks |
GDP growth rate at 4 %, usdinr going for all time high and dwindling forex reserves.............and we still deserve a new high!!!!! |
No, definitely not but liquidity APPEARS to be dictating so you can add to that political uncertainty in coming general elections. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #885 Posted: Mon Sep 23, 2013 8:08 am Post subject: |
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| rk_a2003 wrote: | | arvindeept wrote: | | amitagg wrote: | Saumya,
For benefit of others, pls elaborate in brief your basis and what u are looking out for in next 6-8 days.
Thanks |
GDP growth rate at 4 %, usdinr going for all time high and dwindling forex reserves.............and we still deserve a new high!!!!! |
No, definitely not but liquidity APPEARS to be dictating so you can add to that political uncertainty in coming general elections. |
In addition... the RBI action was the outcome of the fundamental scenario.It's fundamentals that put a brake to the mad rally intiated through liquidity. |
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