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Be Cautious Ahead : Nifty [TANMAY]
| From : Tanmay Roy at 09:06 PM - Apr 25, 2010 ( ) |
Share it on FacebookBe Cautious: Nifty
NIFTY : CORRECTION AHEAD
After a long time i'm back with another article. It's been months i had stayed away from this casino (market) and my blog, writing back after almost 4 months. Have written about Nifty always, so this article too belongs too Nifty, As the heading suggest "Be Cautious", Now the time has came to really to be cautious. I can see a big panic in coming days.
According to my view and my study, I came to the point that Nifty has exhausted now, it would need a good long leg to continue its bull run again. (good long leg- elliot wave lovers will understand this).
The Nifty would now halt at 4500-4600 level ,,, sounds impossible yes..? but that's what it is going to be happen, However don't think that the correction would be completed in a day or two , it might require a month to complete. The habit of the people is that they would forget about the correction when nifty would bounce back a 50 or 100 point in a day and would sit in a long position again. But remember that we have to see a big correction ahead, So be cautious.
Though I am not saying that this bull run is over, but my words are just a caution that a big correction is lying ahead. This correction would not be an end to the current bull run, but after that it will again rise and will continue to make new highs. So this correction would be much needed for the Nifty to continue its bull run.
The current support lies around 5120-5090, which if breached then Nifty would finally halt around 4680-4500 zone. Though Nifty can again bounce back in its middle journey to trap the traders but finally it would be a downtrend which will continue to 4680-4500. The resistance seen is at 5400 and 5450.
This prediction would void if Nifty manages to close above 5450 level.
One may exit his longs and may again re-enter fresh longs at the above said level around 4600.
The complete correction might end by 21-30 days from today.
This is fully a technical view and afterdays we will know the news,, the charts predicts earlier. Already we have got the news, all knows about the latest "Goldman Sachs Fraud". More news are to come.
This is my view on the market based upon my strategy and study, and this is not a recommendation to buy/sell.
T A N M A Y
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yes ji u r absolutely correct defenitely nifty will touch 4500 or may be 4200 within 2 months
Tanamayji ......... very good timely warning u hav given when many peoples like me were stick to trget of 5500, 5600 but from ur and many mudraa analysist made me coutions for the 5500,5600 target thus i also made some money , very good website with polite and hard study of analysisit team which help peoples like me thanks to all just go on rocking
UPDATE..................please CAUSTION IS OVER or still ALIVE?
Tanmay ji where will the nifty close for may series . plz advice the range.
Now everyone is seeing the correction in Market, everyone is in panic..Everyone now talking about correction and support levels and blah blah....When they were at 5300 levels?? Beware...the picture does not ends here....
Dear Kaushik Das ji,,,yes, right said, the long bull run will again get active at 4500 level from where it will head to its new highs...100% no need of worry for the long term investors...
TANMAYJI, WHAT CLOSING NIFTY LEVEL DO YOU EXPECT FOR MAY....PLEASE LET US KNOW
Tanamay ji you are correct ....but long term investor no need to worry ...we will see a massive bull run after nifty touces 4600-4500, and that bull run will help to cross large barrier of 21000 (sensex) easily
HOPE ALL IS GOING WELL AND HOPE ALL ARE ENJOYING THE PANIC...(MOST OF TRADERS TRAPPED)
MARKETS ONCE MORE GAVE CHANCE YESTERDAY TO ALL TO OFFLOAD ALL SHORT-TERM HOLDINGS AND GO SHORT...
I THINK IT WON'T GAVE ANY MORE CHANCE AGAIN...LOOK THE THREAD IT'S 19 DAYS OLD...
PREDICTED MUCH BEFORE....JUST NOTHING HAPPENED...THE MOVIE HAS JUST STARTED ONLY,,
THIS IS THE ANOTHER ROUND OF OUR SUCCESSFULL JACKPOT JOURNEYS...
FROM 3900 TO 4500
FROM 4500 TO 4200
FROM 4350 TO 4650
FROM 4650 TO 4950
AND MANY MORE.....
ISHWAR APKI YATRA SAFAL KARE....
HOPE THE GOD SUCCESS YOUR JOURNEY...
GOOD NIGHT !
ENJOY THE WEEKEND!
T A N M A Y
WELCOME BACK TANMAYJI, GOOD STUDY WE AGREE WITH YOU. GOD BLESS YOU.
Yes. I do totally agree. I am sitting on put already
if brk 5150...thn 5020....if brk 5000 thn 4800...4600 so far bro...i dnt think 4600 we will see
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