KumarAbhilash
Long

nifty- next target 10800

NSE:NIFTY   Nifty 50 Index
weekly chart

at resistance - use buy on dip for 10800
previous analysis

Comment:
fall came as expected use this fall to add nifty at cmp
Comment:
Comment:
Trade closed: target reached
tomorrow full gap down price action likely
Reply
KumarAbhilash Parasuram
@Parasuram, i will look that again an oppurtunity
Reply
am looking for 9800 instead of 10800....
Reply
KumarAbhilash Parasuram
@Parasuram, and can u give me reasons for that (technical or fundamental, as i post atleast one reason be it technical or fundamental and on charts till now there is no such sign of falling market 6%)
Reply
Parasuram KumarAbhilash
@KumarAbhilash, Here I go! From 2009 no rally has lasted beyond 25 days... Yesterday was the 25 th day of the rally started on 28th sep... Looks like a blow off rally as this rally is largest from DEC 2016.... lows... similar patterns have occured in 2013 where each rallying segement lasted 20 to 25 days... without much corrections.. But the when the correction happens it shaves off 80% to the last rallying leg.... Fundamentally u want.. NIFTY PE ratio is in a bubble territory for quite some time.. and it can burst any time.. One catch.. this fall should last for more than 2-3 days for my theory /pattern to work...Cheers
Reply
Parasuram Parasuram
@Parasuram, will the close happen below 10339?????
Reply
KumarAbhilash Parasuram
@Parasuram, no one in this world can accurately tell u about market what will happen especially with specific levels
Reply
KumarAbhilash Parasuram
@Parasuram, only two thing i would like to say u r seeing market on extremly small scale and other things is there is lot of misconception about pe -a) pe range has been shifted upward so market is not very expensive b) pe can be misleading at the time of earning cycle bottom and top(er are at bottom) . c) u just cant say just on pe basis that market is expensive
Reply
nages.rao2011 Parasuram
@Parasuram, you are correct with in next week there is a correction.
Reply
KumarAbhilash Parasuram
@Parasuram, 10850 came firat
Reply
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