Sensex as expected has bounced back from the 61.8% support at 14680 ...............Markets made a low of 14705 ... I had written about 14600-14800 where pain will get over .... In our yearly view had written about 15100 and 14700 as good areas to enter .......
A brief on why i m so bloody heavily dependent on fibonacci ..........Its one of the most amazing series and the golden ratio is 61.8% is much more interesting and it has been observed in nature , anatomy and stocks everywhere ..........Base of elliot wave analysis ....
Dow Jones index also as had written huge downside support at 12900-12800 only if goes below 13150 ... Reverses from those levels hits 13600 + comes out of the range of 13550 a good move might be a breakout dint check the charts though ...Long term scenario remains good only ..
Well the same analysis combined with other analysis we gave a bold call that markets would not go below 12300 !!! also exit call at 14700 just a lil before of fibo tgt 14800 ... This time 14705 again acted as bottom ....FIBO rocks ...Just type fibonacci series on google search 🙂
Never take decisions in panics , and never promise when u r happy 🙂
Review :
JP hydro .......patience paid benefits , hits 44 + gains of 10-15% in a FNO stock in just 11 trading sessions ( just written this for people to show it wasnt long time , patience pays )
Walchandnagar Inds hits 5% freeze ... 2468 today from 1700 levels , ACE and solar exp stable still good only ... , emami tgt of 260 done in less then a week , bharti ship , elecon , indo tech still good ... KILITCH drugs 2 ckts , Neo sack no movement , remi metals and apple finance on ckts , Vimta Labs gives a move above 160 hits 169 + in the day , RNRL rocks
Stocks to watchout for :
ABB above 1160 tgt 1100 -1150
Ingersoll rand stoploss 345 tgt 410 short term
FSL stoploss 78.5 tgt 88 -93 buy arnd 81-83
NTPC , REL , TATA Power , Torrent Power , JP hydro all power stocks look good with a view of next 6 mths for safe returns
DELHI TECHNICAL ANALYSIS SESSION BEING PLANNED FOR 1st week of SEPTEMBER .....Interested people get in touch
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Nooresh
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