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SHOWS THE RANGE OF THE DOWNTREND ENDING

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AFTER WHAT I WROTE A FEW WEEKS AGO ABOUT THE MARKET TURNING DOWN, HERE IS ANOTHER UPDATE ....... ABOUT TIME @ LONGS

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AN INTERESTING OBSERVATION.......... EVERY DECENT/ MAJOR FALL IN THE MARKETS HAS TAKEN PLACE IN """"" JANUARY"""""..I AM NOT SAYIN THIS. HISTORY SHOWS IT IF YOU WANT TO SEE OR BELIEVE IT.

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I AM POSTING MY VIEWS AFTER A VERY LONG TIME. THE LAST TIME I DID..... I HAD VERY CATAGORICALLY SAID TO STAY LONG AND BUY STOCKS FROM A CERTAIN TIME HORIZON. I TRUST MANY BENEFITTED . NOW...... THE SCENARIO IS SLIGHTLY DIFFERENT. 1. THE CHART POSTED SHOWS A WAVE COUNT FROM 2008, WHEREIN I HAVE MARKED A 5 WAVE @ IMPULSIVE.THE FALL IN JAN 2020 WAS A 4 DOWN, AND THE...

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PERHAPS I AM THE 2ND MAD MAN AFTER JIM CRAMER OF THE MAD MONEY SHOW....... I AM STICKING MY NECK OUT TO SAY THAT .... THIS IS ONLY A SHAKE UP SELL OFF...... MARKETS ARE INTACT AND YES, I HEAR NOISES ABOUT THE MARKET RE VISITING 7500. FOR GODS SAKE, GET ALIVE.... THIS MARKET IS ROCKING. IT HAS GIVEN YOU ENOUGH SWINGS TO MAKE SERIOUS MONEY BOTH WAYS, AND THOSE WHO...

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AS SHOWN IN THE CHART....... UNLESS TODAYS HIGH IS TAKEN OUT TO THE UPSIDE..... LIKELY TO TEST YESTERDAYS LOWS EITHER TODAY / TOMORROW@ 23894 N MORE

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NIFTY MAY HAVE ALREADY MADE A LOW, OR IS WELL WITHIN AN INTERMIDIATE LOW ZONE...... THE 20 EMA ON FRIDAY WAS 11680, AND CAME UP TO 11715 TODAY..... WHERE NIFTY MADE A LOW AND BOUNCED OFF UPWARDS. AS I HAD MENTIONED ON FRIDAY/SATURDAY/SUNDAY...... RELIANCE HAS MADE OR IS WELL ON ITS WAY TO MAKE A BOTTOM NOW, AND GOING BY THE DOW FUTURES, IT SHOULD BE NOTED, WE...

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I LOOKED THE WHOLE DAY AT THE CHARTS TO TRY AND UNDERSTAND WHAT THE IMMEDIATE OUTCOME OF BNF MAY BE, AND THIS IS THE BEST EXPLAINATION I HAVE BEEN ABLE TO COME UP WITH. 1. THE SHORT IS VALID AS LONG AS BNF NOV STAYS BELOW 24490-505 ZONE. 2. I DREW PARALLELS TO TRY AND SEE WHAT BNF IS TRYING TO DO..... IT NOW APPEARS TO ME THAT THE BREAK OF 1 PARALELL WILL...

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SOMETHING IS COOKING ........... BUT UNABLE TO DECIPHER SINCE IN A CONSOLIDATION MODE...... ON AN HOURLY/DAILY BASIS SHOULD WE CLOSE BELOW THIS BODY CLOSE..... CONSIDER THE SHORT SIDE .... THIS BODY CLOSE WOULD THEN BECOME SACROSCANT

deepgups Updated 

HERE IS HOW i READ THE CURRENT WAVE STRUCTURE ON RELIANCE. 1. A CLEAR 5 WAVE IMPULSIVE PATTERN HAVING BEEN DONE...... WE ARE IN A CORRECTIVE ABC CURRENTLY, WITH THE FOLLOWING RIDERS A. I HAVE MARKED ''A'' DOWN @ REMEMBER THAT IT CANNOT BREACH THE LOW POINT OF WAVE 4 B. HAVE MARKED ''B'' UP WHICH CANNOT BREACH THE HIGH POINT OF WAVE 5 C. HAVE MARKED ''C'' AS DOWN...

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RELIANCE HAS BROKEN BELOW ALL ITS HOURLY EMAS....... AND ON A DAILY BASIS, IS BELOW THE 5/20/50 EMAS . ALTOUGH 200 EMA IS WAY DOWN AT 1700/...... WHAT NEXT IS THE QUESTION??????? PLEASE LOOK AT THE WEEKLY EMAS, AND YOU WILL FIND THAT IT HAS BROKEN BELOW 5 EMA ON A WEEKLY BASIS AS WELL, BUT THE 20 EMA ( WHICH IS ALWAYS A VERY STRONG SUPPORT/RESISTENCE POINT) IS AT...

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BNF FOR NOVEMBER ...... ( NEUTRAL TO BIAS ON SHORT SIDE) 5 EMA CROSSED BELOW 20 EMA ON AN HOURLY BASIS INDICATING SOME WEAKNESS FOR THE INDICE. WE HAVE 50 EMA BELOW THIS AND AT THE BOTTOM IS THE 200 EMA. SHOULD BNF TAKE SUPPORT AT 50 EMA, IT WOULD STILL NOT BE A CARRY TRADE AS IT WILL THEN HAVE TO CROSS OVER 5 AND 20 ON THE UPSIDE. MOREOVER, FOR ANY BULLISHNESS TO...

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AS EXPLAINED ON THE CHART

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WATCH RELIANCE

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SHORT TO NEUTRAL STANCE FOR TODAY AS EXPLAINED IN THE CHART

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IN A SIDEWAYS MODE CURRENTLY, WITH AN UNDECIDED DIRECTION FOR THE MARKET 1. PIVOT FOR DOWNSIDE/UPSIDE AS PER YESTERDAYS MOVEMENT WOULD IDEALLY BE 11860-65 ZONE 2. AN UPSIDE WOULD ENSUE ABOVE AND SUSTAINING ABOVE 11925..... SUSTAINING THIS, NIFTY IS LIKELY TO TARGET 11970-11990 AND MORE 3. STAYING BELOW 11860 ANS SUSTAINING BELOW THIS, NIFTY IS LIKELY TO HEAD LOWER...

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GOOD MORNING DEAR FRIENDS. JUST AN UPDATE FOR THE DAY FOR YOU ALL TO PONDER ON. 1. NIFTY STAYING BELOW 11970-12000 ZONE, AND BREAKING BELOW 11880-895 ZONE, WILL HEAD TO 11700-11745 AND LOWER 2. NIFTY STAYING IN THE RANGE OF 11865-11880, WILL RISE TO 11975-12000 AND HIGHER 3. THERE IS A NEGATIVE DIVERGENCE ON MOST BANKING STOCKS/BANK NIFTY AND NIFTY 4. RELIANCE...

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A WARNING TO YOU ALL MY DEAR FRIENDS......... AS EXPLAINED IN THE CHART 1. WE MADE A HIGHER HIGH ...... BUT BROKE DOWN ..... MOREOVER, IT WENT LOWER TO 24134.... WHICH WAS LOWER THAN 24167 2. BNF MADE HIGHER HIGHS..... CAME DOWN... N BOUNCED BACK AGAIN, BUT DID NOT SURPASS THE HIGH FOR THE DAY@ 1ST WARNING BELLS 3. THERE IS A NEGATIVE DIVERGENCE WHICH HAS COME...