Nifty 14 Nov 2013 : Possible support reached.

Nifty still continues to maintain the container I mentioned in Nifty 24 September 2013 : The container for some time to come and the inner walls of this container is already breached and breached back. The question now is whether Nifty will kiss the outer wall or it will continue downwards and test the other side.  In my perception, Nifty reached a support zone today.  If it is held, a rise towards the inner wall, which is shown with thick pink line in the chart below, may ensue. Subsequent moves may depend on the strength of the pink line.  I would still like to wait for the kiss of the outer wall (TL joining 6112-6229) which now lies close to 6450:

Nifty 29 Oct 2013 : Still likely to hang between 6000-6260

Nifty continues to maintain the container I mentioned in Nifty 24 September 2013 : The container for some time to come and the inner walls of this container is being dented.  While we wait for this to happen decisively, the current move may be developing as shown on the chart below:

 Three values need to be kept in mind.
6260 - The max blue c can do and a tick above this will make the possibility shown above invalid.  Which will lead us to the next value.
6311 - Removes the possibility of an expanded from 6142 and leads us to next value.
6336 - The minimum value for a 3 wave structure from 5118 developing as 5118-6142-5701-6336(min) to 7356 (max).

Rest after one of these shows up.



ALL THE BEST!

GOLD 11 Oct 2013:Critical near 1167.

Longs should have a SL of 1166 and shorts should keep the SL near 1434 and tighten it when it closes onto 1180.   Here is why....

Weekly

Monthly

PS.  I continue to wait till Rs 15000 or $700 is taken.

Nifty 10 October 2013 : 5500 or 6400?

The following charts are based on the presumptions made in Nifty 24 September 2013 : The container for some time to come.

Preferred Projections:    Possible 5700-5350.

Alternate Projections: Possible 6334-7360.

Nifty 29 September 2013 : Current Possibilities

The short term view posted in my post NIfty 24 September 2013 : A short term view, which is likely to take place within the containing possibilities shown in my post Nifty 24 September 2013 : The container for some time to come, has taken the least expected path in all probabilities with minor variations.  The subsequent moves mandated a review and when I did that, following possibilities emerge...

So what should be done?  Within these possibilities, longs could be initiated near recent lows with SL of 5797 for a target of 5900/5970/6100.   While Shorts can be initiated only near the thick red UTL with SL above this.  Targets for shorts could be 5810/5700/5500.  Whichever side is chosen, a SL must be an integral part of the plan.  There could be more surprises in store with Bernanke and Rajan coming up with unexpected discourses to revive their respective economies.