iCharts Discussions

RAKA · White Belt Joined: 10 Jun 2007 Posts: 37

Exit all your long position tomorrow (Thursday). We will see a massive fall in coming days. Tomorrow upside may be capped at 3030. If sustains above 3030 then 3130 is also possible. But this rally is opportunity to sell only.

RAKA · White Belt Joined: 10 Jun 2007 Posts: 37

Tgt 3130 almost acheived. But Nifty seems to rally for few more days (Prabably till Wednesday). Tgt may be circled point marked [i] on the chart. It comes around 3355. But dont bet for that tgt. The intermediate fibbonacci tgts for Nifty may be 3165......3240....and 3280.

jp12 · White Belt Joined: 24 Mar 2009 Posts: 4

Hi Raka,
Nifty was swinging of late ,do ur 3100+ levels stand valid .
Jp12

RAKA · White Belt Joined: 10 Jun 2007 Posts: 37

Hi jp12,
Frankly speaking I am also confused now. Suddenly nifty has become super bullish. I dont know what has changed in the world. As of now Nifty seems to clock super gains in the month of April. Just for academic interest watch for 3165....3280....3355....3405....3677.. fibo levels. Razz

doji · White Belt Joined: 22 Nov 2006 Posts: 31

RAKA, Nifty is going through the roof ! Surprised

jp12 · White Belt Joined: 24 Mar 2009 Posts: 4

Hi raka,
Nifty hit 3200 as per ur Trendlines , However Iam short as of now with an average of 3100,having an eye on uncertain political enviornment . Hope we get that levels again to square off Confused

Jp12

RAKA · White Belt Joined: 10 Jun 2007 Posts: 37

Hi jp12 you are short Shocked

In shuch a strong market you should never be short. And moreover you are short based on imaginative events. Political uncertainty is a common phenomena in India. We have more than 1000 political parties (and Markets know this). But even then we will have a Govt. at the centre because every politician knows they cant survive without coalition. Hence it becomes non event.
Moreover current market rally is driven by Global sentiment. And the speed at which it is going up is mind blowing. It has no upside limits. I am posting one more chart based on trendlines. See if it can be any use to you. The tgts given based on trendlines also matches with fibo. tgts. So first of all, hedge your position and then think of other things. Next week we may get small correction. But overall Markets will be bullish in the month of April.