These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.It has been a long time. I am really gratified that the market respected our cycle in time of around 17~18 August, which was mentioned in my last post on 14 August. According to my cycle calculations, we have another event on 30 August. A kind friend informed me that the Dow is down 135 points, as of this moment when I am writing. In such a case, we could see some downside due to adverse sentiment. If we see a downside, then we could see an intermediate bottom on 30 August.
And, the next time cycle falls on 5 September. This could again show us a short term turning point. In any case, the pattern of higher tops and bottoms augers well for the bull. This may therefore be classified as a buy on dips situation.
The short term target derived from Fibonacci extensions is 16278 on the BSE and 4724 on the NSE. If such a target is achieved, then it is obvious that the market may make a new high.
Plan your trades and trade happy.
1 comment:
haha welcome big bull ! its been a long time ! everyday we used to refresh our page, thinking its old cache file problem ! finally - some "refresh" ed work ! ;-)
reg
ketan
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