Technical view by Nooresh

Re-Cap Sensex 8k to maybe 13k.

I have never seen the mood on the street to be so positive and suddenly everybody wants to be buying on Monday. All the investors will wake out of deep slumber chasing stocks and thinking of a new bull market after a good 50% from the lows :) 

So lets have a re-cap of things put up on this blog and lot many of us might have profitted from the detailed views and strategies.
There is a lot of effort and analysis that goes into the postings and hope readers have been enjoying the same. Many may have not been active in the last few months coz of the utter pessimism in the sentiments so may have missed the detailed views given. 
Have included only a few of correctly timed reports/presentations/analysis etc in the last 2-3 months. Do have a throrough read and do post in your comments.
CLICK the links and have a thorough read ! 
Here had suggested about a major bottom being formed in March and then retrace back 38/50/61% of entire downmove !! 
Mid caps and Small cap indices had lost 73-78% from peak and further drops would create opportunities and long term investors should start researching.
Discussing about how we might have already seen a panic bottom but a re-test or 10% lower could be seen in March. Dow Jones and other global indices did break but Asia did not. Also crude being bottomed out and reversal was near. 
This strategy was well-documented with an example of LnT  about how to go about building a long term portfolio but did not elicit much of comments as many were averse to buying. Although we could only get into 2-3 levels of the pyramid but at least gave some exposure to stocks like LnT, Axis etc. The view was clear to buy and build on.
 Another power point posted on AVERAGING of how investors make a mistake of doing it in no of shares rather then amount of money. Do check it !! - CLICK HERE
How we had been seeing a formation of tops and then a crack. This was slowly shifting into a possible higher top and higher bottom formation. The fractal pattern was changed when it broke above 10127 
This is the first time had mentioned about the a possible surprise rally to 13k is possible if we close above the huge wall of resistance at 10.5k 
"""Now yet again index is at a breakout zone of 10500 which if crossed with momentum or stays above for 3-4 sessions index should try towards 10900 ( prev top ) /11600 ( fibo and ema) /13k(channel). This alternative remains in place for next few months.""

I have not spoken much of Elliot in last 3 years but was one of the few who might have spoke about the start of a big B wave opportunity in Sensex. Shown the exact pattern seen in Dow in 1930s. Do read this. 

A detailed technical study of Asian indices - Hang Seng Nikkei and India where we had seen a classic triangle pattern failure followed by double bottoms and then a channel which is now broken !! 

--> Sensex Elliot Wave and Technical Perspective 

After giving a brief on the B wave opportunity in Sensex followed up with a detailed technical view. 

""So we would expect Sensex may ideally touch 12900/14500 levels once in next 10-13 months or earlier also.""

12900 might be quicker then expected. Now i do expect many Elliot wave analysts to change their counts !! 

A detailed post on global indices where we discussed about the flag/pennant formations in all of them pointing to a 7-12% rally in short term. 

Bang on almost all of them did the target levels. !!! 

Sensex has seen a gap-up action after finding supports on the momentum line and this view of ours might be validated again tomorrow by a gap-up on Monday which may target our 12900 levels being discusssed so many times. 

""" The trend is still up so the probabilities of 12900 seem to be higher ( maybe market knows the result). """

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Best Regards,


09819225396 ( aftr mkt hours ) 

Article by Nooresh Merani

Nooresh has written 2531 articles.

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