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.Today I wish I had said, I told you so. But it was not my day.
The market does not want to give up at this point in time. As observers, it tells us that it does not want bulls to enter at this point.
In any case, even after having analysed the market for over thirty seven years, I still feel amazed how the market respects certain levels. The Index bounced just from the blue line, which was an earlier price projection, and never looked back from there. Are we now looking at the ~5400 frontier?
The saving grace for is that it was suggested that last week was not the ultimate top. The market has been king to respect that observation. Yesterday, it was suggested that we could witness a cycle in time on 24 October, but from today’s behaviour, we could see a short term top on 11 October itself.
Plan your trade and trade happy. Suggested to keep the trailing stops intact, and enjoy the ride.
3 comments:
Sirji, are we looking at 5650 (2003 supply line) and thereafter a correction upto 4500 ?
does it match with:
1. oct 11 and congress-left meet on 22nd ??
2. nov 4500 puts traded 15 days back...??
reg
ketan
Hi Dusant,
I came across ur blog which is unique that mentions something about market cycles.
As per my analysis, we are reaching short term cycle top on Oct 10, 2007 (that is Today) and an important long term cycle top in Dec 2007. Of course, I am trying to prepare a program covering fourier analysis of all these mkt related cycles.
Well my cycles are not related with Indian Business cycles and Indian Leading Index (DSE- econometrics) type indicators.
Can you please mail me what all cyles u generally follow. It would be really great to initiate discussion on this aspect.
My mail id: rythm_g@yahoo.com
gaurav.
SIRJI - AN INTERESTING OBSERVATION -
Mkts are at 5450 and today (10-11 october), 4400 october puts have added significant open interest at a price of 8 Rs !!
Pl tell us sirji - u r not telling us something !!
(or wud u like to hear it from left on 22nd !! haha)
reg
ketan
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