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    Monday, December 31, 2007

    market today and in coming days...

    for monday the range i see is 6055-6115 and broader one as 5985-6205 in coming days.

    any price volumes breakout closing above 6110.85 means facing resistance at previous high 6185 a possibility open for 510 points from 6110.85, but below 5945 can take it to 5780.

    positional sl cl basis 5960.

    positional stocks to watch abb, rel.

    many leading stocks are showing interesting developments on charts, once they breakout/breakdown some of them i'll try to give here with possible targets.

    Posted by abhay r somkuwar at 8:18 AM

    4 comments:

    shyama said...

    Hi,
    Wish you a very happy and prosperous 2008.
    Noticed that you have changed the wave count.
    In case, as Monicaji has suggested, DFIs and FIIs prop up the index to enhance the NAV (Why should they prop up when there is no need for such manipulation-is a separate issue)for year end closing, and market comes down tomorrow, will the wave count change again?
    Will it be possible to have two simultaneous analysis and levels so that in case there is a manipulated breakout one can look at the other analysis?
    V-5th wave and iii within that means we still have to have a downside corrective- is it not?

    December 31, 2007 at 4:18 PM
    Anonymous said...

    Hi Abhay,
    This is GG, yr vfm friend.
    Really a nice site and shows yr tremendous study and passion for the market. My only question is eventually the markets will go up that is the talk of town, but whether first 5950 or 6400.
    The boarders on vfm including me as said by someone today read the way it is convinient and not the word of caution.
    anyway coming back what is this 5th wave about and can it be shown with some time frame.
    U can elaborate here bcoz on vfm it will be like hungama , reasons you also know best. else my e-mail id is gd_godbole@yahoo.com or gd.godbole@gmail.com.
    Many Best Wishes for further endeavours in stock markets.
    Wish you and your family A BLASTING HAPPY NEW YEAR.
    regds
    GG

    December 31, 2007 at 6:13 PM
    abhay r somkuwar said...

    pehle 5900 or 6400? pehle murgi ya pehle anda? hahaha, looks like 5950 is left behind from ydays data, so was amazed at some contrary views expressed on vfm forum. some people take very short view of 1-2 days, some just intraday, while others of 2-3 months or more hence there is difference of opinion, but i feel a broader view is always helpful, the rest is patience.

    anyways, thanks to both of u, gg and supras, there was a grey area of wave 4 ending and wave 5 commencing hence the alternate view was taken for the first time (and alternate wave 4 ending was also then caught at correct point near 5680 discussion on this with rajan sir and san as u must be aware on vfm shoutbox), bcos so far the counts and magnitudes have been far more accurate than any other known ew analyst. shyam as far as the time period for this probable 5th wave is concerned, there is no minimum but max 6 months and usually 3 months from end of 4th wave, so it may continue till after budget if this is really the 5th wave. iii is usually the largest in an impulse. the sub wave V-5-iii-(ii) seems to be over, now we wait for closing above previous top of 6185.40 for any bigger moves on upside. this is also the time to get cautious for positional longer view players and they should shift to good counters for next 2-3 months after that we may face deep correction in the market though the bull run may remain intact till 2009 and resume again in sept-oct. i guess now the dow is also trading in v-1 wave.

    a happy and prosperous new year to u and ur family and friends,

    regards,
    abhay r somkuwar.

    December 31, 2007 at 8:12 PM
    shyama said...

    Abhay,
    You deserve congrats. Seems the new count is ok. Yesterday we survived a vicious profitaking. For once, everybody is on the same side in the forum also. Where is Rajesh_fun?
    Thanks for putting it into perspective with time frame.
    Regarding the time frame, I have this nagging fear of January. Overbuilding by novices and heavy profit taking by experts citing nonallocation of funds as an excuse. This happens again and again and this time they are adding low value nifty futures to add fuel to fire. So we should survive the first week.
    End of winter brings expected and not expected natural calamities around the end of January because of climate change. So we should survive a second time in the end of January.
    Indian pension fund entry can happen this year with the facilitation of shortselling enabled. So a long consolidation to facilitate the entry of such funds can happen.
    Baby bulls will be led on again and again and skinned alive hereafter.
    So all in all, first 6400 then instead of consolidation, a fall is what I expect, the magnitiude of which will be progressively determined by the new entrants and short sellers.
    If the index is modified into a broadfaced one, maybe we can get out of RIL dependence or is it kept like this purposefully?
    Sell Reliance and Sell India has become a big headache.
    Can we all form a forum behind Soumilji and fight for stock settlement of futures instead of money settlement? That will give a fighting chance atleast.

    January 2, 2008 at 9:00 AM

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