I still want to stick to my point

As it is too early to predict the corrections. The support and resistance what i have shown hold a good sense ... i can even call it as magical support and resistance. market was in a rectangle and today it had been  broken. Technical analyst have a great belief that Bollinger Band will stand as a good support and resistance..  and when you see todays chart we can easily say it's time for a correction. 

Note: if market maintain a good support and it is having a resistance which can become a hurdle... If it  manage to come both of this hurdle i can call market as bullish..

What is my view on sensex?

My view on sensex is as similar as other technical analysts.. hear i would like to explain why market is not a right pick for this Diwali.

• RSI. as RSI have indicated a overbought signal.
• Even %R is not showing a healthy sign.
• Parabolic SAR. have not yet shown any reversal sign.
• 17440 look me as a good resistance, if it break than. we may directly don't see a bullish run but can say as a ray of hope.. because from last few month market have struck itself in a rectangle. if market move as predicted it may be +ve sign.
• Conclusion: Market need some correction and will go into correction as many analyst. right know i am working on "How Much?"

An classic Island Reversal in TATAMOTORS

I have spotted a triangle in SBI

Even thought SBI have managed to fill the gap. i was able to spot a triangle in a 5 day chart. if SBI manage to open above 1900. we will see SBI heading for higher Resistance which are 1900/1919/1934 . if triangle fail we will see a free fall between 1800 to 1750.

TATASTL: Begins a new downtrend rally

Tata stl is ready to head a downtrend below 420. If tata stl manage to cross 455 it is going to continue the previous trend.  

I am looking Hindalco as bullish stock, if it manages my support. I expect Hindalco will test +135. if it fail my support @128 it will manage my channel support @ 125 heading a downtrend. i hope on monday the stock will be bullish 

I am back

I am once again back with a new blog as i had problem with my old one. i will be once again going to publish. as i used to do with my old blog.