Technical Analysis of Indian Equities by Nooresh

Fool hardy predictions

There is one saying when paanwaalas , grocers and vegetable vendors start talking sensex will go higher then expect markets gonna fall.........

Same implies if the milkman tells u sensex will go to 8k implies the correction is here to end....

Foolhardy Analysts :

Half of the indian foolhardy analysts are speaking of bearish sentiments and markets will tank to 11k or maybe lower ........Isnt it simple to say it will fall coz if it doesnt nobody is gonna be bothered that dumbo said that ....

Why is this a safe prediction if market tanks then they will come blazing out !!! if it doesnt are u gonna ask him .....

It is simple to follow the herd ...the same analysts said 15k -16 k by march isnt it.......How many of these duds said to exit ( did he even say a possibility of a fall )...I would say majority did not .......!!!!!!!!!!!!!!!we did..

Still maintain dont put in full money ...wait for declines or wait for confirmation of reversal ...The kings ( all people with cash ) will take their time...

Current View :

Markets have made a good bottom at 12340 which was 55th day from 12800 bottom...Fibo time analysis says this is a good reversal place and if followed by good consolidation then the bottom will stay for long......

I maintain that if we dont break 12300 for next 3-4 weeks all the big bears and big analysts will be peeing in their pants ....

Bearish scenario in these markets will only creep if we give a weekly close below 11400 levels... If that happens it implies india is no more shining and i m off to any other place then india ,...If u believe india story then forget u can see sub 11k levels if u do then shut shop go off for better opportunities .......

Luckiest place to buy in indian markets would be if we come to 11400-11800 which still seems far fetched .......

Long term in coming 8-13 yrs of this bull cycle if u tell me watever times frm here is possible on sensex till 11k is maintained...

Cheers!!! Happy investing ....

Regards,

Nooresh

9819225396 ( call to learn more )
Mumbai

noorrock2002@yahoo.com

Article by Nooresh Merani

Nooresh has written 2627 articles.

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