the beast update

gold has respected its long term tgt.hopefully it will not move further and avoid the bubble territory.

trend reversal point is at 1620.

it should not move much above 1825 type of zone now.

excellence

“If you focus on success, you’ll have stress. But if you pursue excellence, success will be guaranteed.” ~ Deepak Chopra

nifty update

on august 2nd i had posted that index should move to 4800. it has hot 4796, in a matter of 10 sessions i suppose.

update

gold continues unabated.

looking at the charts , gold's immediate target i have posted last time..

but if i look at the bubble territory , its 2300-2600 usd.

will it get there?

the beast

gold is the un-tameable beast of the financial market defying gravity making new highs.

still to hazard a guess, it is likley to see sell off perhaps by september, topping out in 1850-1950 zone and falling to 1350 levels.

spx

bounces in spx whenever they come will be limited to 1200 and below. it is almost not possible to go above 1250 for spx .so that becomes upper ceiling and change of trend level.

further very soon it will come to 1039-1009. eventual tgt is 935-950 zone.

spx

1130 was an approximate zone of change of trend.. the exact change of trend happens at 1124.

nifty,spx , oil

nifty had confirmed the pattern i wrote last. 5020-4985 is the area from which bounce is likely.watch for that area and cover all shorts for once here. bounce will begin around/on the day when nifty will close at the lowest point of the day.

spx ,on a bearish sell signal , is in a hurry to reach its trend reversal point as written last.

this has effectively meant that 1370 was indeed the top for quite some time now!

crude has come down to 80usd after hitting the top of 115usd!!

i feel quite nice about these forecasts.

nifty

nifty has hit 5325.a meaningful bounce shouldnot start before 5285.however it looks all set for 5170.

spx is also on a bearish sell signal which is not good for world markets.spx changes trend at 1130.

nest few days are very crucial technically.

the pain in equities may just continue.

nifty

nifty's rections off RBI policy and since then is symptomatic of a triangular formation and failure in e leg, something which can take the best offguard . thats what the mkt did .and hence there has been massive unwinding since then, clearly indicative of wrong directional bets and positions.

i have always felt that index is bound to make a new low below 5200.

hence the nifty should now move to 5355-5328 intially.if correct the low made should end a corrective pattern and next few months after that should be positive for the index,even if it is an intervening x wave.