the crux of all problems

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

sensex

there is good chance that sensex is all set to rally to 18945

spx

spx had changed trend at 1124 as written before.

since the change it has been actively defending 1120 zone refusing to go and close below it.

so whenever it closes below 1124 on a daily basis should be a sign that the next move down is starting.targets as given before still stand.

the only one issue is that there is a complete news based selloff eg. spx is downgraded and it sell off. europe is in trouble, it sells off.this is not exactly the way it should be happening. and inspite of this element of fear and global panic, it refuses to go below 1124 and do a close below.maybe it is just bidding time.else..

gold update

sometime back, based on time and price studies i had commented that a sell off may be seen in gold by september which has come true topping in the range also thought.

gold has changed trend now and should see minimum retrace( which is in line with the perception at the moment that it should see a large retrace!).

it is not the best time to hold or buy gold for sure.

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.