Technical view by Nooresh

Sensex August to October !! Bang on !

August 23 --- Sensex 15240

A detailed view on the rising wedge pattern in which one would expect 16500 to be crossed. See the green box target zone.
September 16 - Sensex 16677
Bang on the chart looked like an advertisement like BEFORE and AFTER !!!
Sensex crossed 16700 and had given the view to start being cautious and would be highly uncomfortable above 17200 if goes without a dip !!
After this every post mentioned about the discomfort above 17k and consistent view was to take some profits home, increase cash. Lots and lots of caution signals given ever since then.
October 27 - Sensex 16353
Breakdown seen from short term trendline. This gave a target of 15500 which was explained with the chart and calculation.
Sensex reached the levels of 15500 in quick time.
November 02 - Sensex 15900
Detailed Video analysis !!! explaining how 15300-15500 band is important and clearly suggested that such a band would hold up and investors can now slowly start deploying cash pulled out at 17k !! For the record we did see a pull up to 15900 in a day itself giving quick gains to people who used the analysis.
The view remains the same. Bullish till its above the 15k-15.5k mark on weekly closing basis.
Optimization of resources.
Hope readers were able to benefit from the analysis in the last few months as well as for 3 yrs. I started regular blogging from October 2006 !!!! ever since then there have been 20-50 posts a month and daily one nearly.
Would like to get more comments/views on the blog or feedback be mailed to
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Article by Nooresh Merani

Nooresh has written 2532 articles.

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