[l] Technical View of the Markets Over the Weekend.

[Guest guest]

dear SP,

i think market will be on slippery path upto 18th july 2008.

we will have to wait and watch upto this period.

i have stopped purchasing new shares

tecnically now market in oversold position?

-sunil gondhalekar

 

 

On 6/25/08, sp_kp_student <thisisme1978 wrote:

>

> Since the market has very much made it close to these levels of 4100

> to 4150 range its a good time to start accumulating at around these

> levels (+-5%) for a short to medium term.

>

> Thats how its looking technically.

>

> All the best.

> SP.

>

> l <l%40>,

> " sp_kp_student " <thisisme1978

> wrote:

> >

> > Here I am taking a technical perspective to balance my

> astrological

> > findings over the weekend just as a change of perspective.

> >

> > Since this juncture of the market is considered as very ciritical

> as

> > it is at point C of fibonacci levels A,B,C,D.

> >

> > A: During Jan at the peak of the bull run the market made a peak

> of

> > 6288.

> > (This is Point A).

> >

> > B: Then a deep correction and it went to a low of 4503.

> > (This is Point B).

> >

> > C: As per the theory of Fibonacci retracements from 4503 it should

> > retrace back 38.2% as a reaction to the fall.

> >

> > The market very much has risen 38.2% from the low of 4503 to 5228.

> > (Exact 38.2% would have bought it to 5190 This retracement point

> is

> > point C).

> >

> > D: Now the market is at a very critical juncture, if it comes

> across

> > any deep correction here it will straight away correct to Point D.

> > Which is a 21% decline of the current value.

> >

> > Which will take the market back to 4100 - 4150 levels.

> >

> > I am keeping my fingers crossed, it would be interesting to see

> how

> > the market unfolds.

> >

> > Thanks,

> > SP.

> >

>

>

>

 

 

 

[Guest guest]

dear SP,

on 26th market was relief with some saline,but today again black friday.

will market bounce back temporary on monday?

what is the technical view?

i dont have a knowledge of long and short and not dealing in it.

thanks

-sunil gondhalekar

 

 

On 6/26/08, sp_kp_student <thisisme1978 wrote:

>

> Dear Guruji,

>

> Thanks for the advise. Since its so difficult to assess which company

> is going to benefit or lose in these economic conditions, so I did

> not purchase any shares too.

>

> But as a disclaimer I am long nifty futures @ 4130 as they look good

> for recovery. And I have hedged the position as well with puts at

> 4200 strike. This is a safe position as you, Vinit etc are mentioning

> of a fall or unsteady ground upto mid July.

>

> I plan to liquidate the futures if we see 3900 below on closing basis,

> and ride the puts or alternatively ride on futures to 4700 4800

> levels within a time frame of upto September, the breakeven for the

> delta of cost of hedging is at 4350 levels... Motto is Market goes

> either way ride it.

>

> Yes the markets have been in overextended oversold position for a

> while now, but it never means anything as markets can keep going in

> overbought or oversold positions for quite a long time especially in

> Bull or Bear phases respectively.

> But it seems we have had the relief rally yesterday.(relief or

> recovery dont know for now, as you say lets wait and watch)

>

> Thanks,

> SP

>

> l <l%40>, " sunil

> gondhalekar " <sunilalaka

> wrote:

> >

> > dear SP,

> > i think market will be on slippery path upto 18th july 2008.

> > we will have to wait and watch upto this period.

> > i have stopped purchasing new shares

> > tecnically now market in oversold position?

> > -sunil gondhalekar

> >

> >

> > On 6/25/08, sp_kp_student <thisisme1978 wrote:

> > >

> > > Since the market has very much made it close to these levels of

> 4100

> > > to 4150 range its a good time to start accumulating at around

> these

> > > levels (+-5%) for a short to medium term.

> > >

> > > Thats how its looking technically.

> > >

> > > All the best.

> > > SP.

> > >

> > > l <l%40><l%

> 40>,

> > > " sp_kp_student " <thisisme1978@>

> > > wrote:

> > > >

> > > > Here I am taking a technical perspective to balance my

> > > astrological

> > > > findings over the weekend just as a change of perspective.

> > > >

> > > > Since this juncture of the market is considered as very

> ciritical

> > > as

> > > > it is at point C of fibonacci levels A,B,C,D.

> > > >

> > > > A: During Jan at the peak of the bull run the market made a peak

> > > of

> > > > 6288.

> > > > (This is Point A).

> > > >

> > > > B: Then a deep correction and it went to a low of 4503.

> > > > (This is Point B).

> > > >

> > > > C: As per the theory of Fibonacci retracements from 4503 it

> should

> > > > retrace back 38.2% as a reaction to the fall.

> > > >

> > > > The market very much has risen 38.2% from the low of 4503 to

> 5228.

> > > > (Exact 38.2% would have bought it to 5190 This retracement point

> > > is

> > > > point C).

> > > >

> > > > D: Now the market is at a very critical juncture, if it comes

> > > across

> > > > any deep correction here it will straight away correct to Point

> D.

> > > > Which is a 21% decline of the current value.

> > > >

> > > > Which will take the market back to 4100 - 4150 levels.

> > > >

> > > > I am keeping my fingers crossed, it would be interesting to see

> > > how

> > > > the market unfolds.

> > > >

> > > > Thanks,

> > > > SP.

> > > >

> > >

> > >

> > >

> >

> >

> >