USE Rally to Exit The Market ,have eye on 1885 point head and shoulder target 16700-16600
i had updated nifty weekly chart before few week ago with possible triangle and head and shoulder with target 4800 and now updating sensex daily chart with head and shoulder pattern.
i have updated daily chart with labels of head and shoulders which is worth of 1885 points and in times to come i expect sensex to fall towards 16700-16600 kind of levels.
after such a volatile past 6 trading sessions and oversold momentum indicators we can expect some sort of consolidations and some more recovery towards 61.8% retracements as drawn on charts which is around 18800
along with this next week is the FnO expiry so we may see stock particular momentum and expect next week could be be consolidation come some sort of corrective rally towards 18800 above that distribution will be aggressive by bears .(19400 in any expected recovery which is not preferable counts )
i am expecting more bed quarterly results by the sensex/nifty and over all many companies because majority of them had not expected this kind of Rise in USD-INR and they have not hedge their positions and expect more bed results by booking forex losses and in the September month expect 16700-16600 kind of levels or it may take 100% time taken by triangle which is 89 days then expect we may see this levels by end of December month.
but over all my point is on higher levels i will not run and buy but will exit and will go for FIXED DEPOSIT
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don’t know whether you and I should expect such low levels but the Elliott Waves Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
Blog-www.janibrotehrs.blogspot.in
i had updated nifty weekly chart before few week ago with possible triangle and head and shoulder with target 4800 and now updating sensex daily chart with head and shoulder pattern.
i have updated daily chart with labels of head and shoulders which is worth of 1885 points and in times to come i expect sensex to fall towards 16700-16600 kind of levels.
after such a volatile past 6 trading sessions and oversold momentum indicators we can expect some sort of consolidations and some more recovery towards 61.8% retracements as drawn on charts which is around 18800
along with this next week is the FnO expiry so we may see stock particular momentum and expect next week could be be consolidation come some sort of corrective rally towards 18800 above that distribution will be aggressive by bears .(19400 in any expected recovery which is not preferable counts )
i am expecting more bed quarterly results by the sensex/nifty and over all many companies because majority of them had not expected this kind of Rise in USD-INR and they have not hedge their positions and expect more bed results by booking forex losses and in the September month expect 16700-16600 kind of levels or it may take 100% time taken by triangle which is 89 days then expect we may see this levels by end of December month.
but over all my point is on higher levels i will not run and buy but will exit and will go for FIXED DEPOSIT
We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.
I don’t know whether you and I should expect such low levels but the Elliott Waves Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.
This is only for education and Information only,please consult your financial adviseror Before Trading and investments in market.
Thanks And Regards
Nishesh jani
Professional Trader & Investor
www.zerodelta.in
Blog-www.janibrotehrs.blogspot.in
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