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    Tuesday, March 16, 2010

    mkt ahead...16th mar 2010...

    no change in the nifty view.

    my views for the dow jones and s&p500(us) are as follows:

    unlike nifty or sensex the dow has been technically quite steady and stable mkt not created panic of any sort and holding its supports, maintaining the uptrend on intermediate and long term(one year) charts. if continues like this then a tgt of 11300 or more should be achievable this year in medium term once it starts trading above the 10767 lvl. this could possibly be a final leg up before it corrects significantly and then heads higher on long term charts.

    the s&p500(us) is currently outperforming the dow index and may well lead in breaking out on upside. if that happens then 1230-1250 should be achievable in short to medium term. other things said about dow applies to the s&p index also.

    -abhay r somkuwar.

    Posted by abhay r somkuwar at 7:01 AM

    7 comments:

    Sujatha said...

    Hi,

    GM. Happy "Gudi Padwa".

    Thanks for the updation. I have not taken any position as there is no proper signal from you & dow :) haha saving my capital ?? just scalping intraday :P

    Have a great day.

    Thanks and regards

    March 16, 2010 at 9:18 AM
    abhay r somkuwar said...

    sujatha, a happy gudi padwa to u too and all the readers of valuetrading.

    my views are pretty accurate and clear on nifty.

    intraday to near term nifty positions there is no sell signal as yet and some partial profit booking in longs @5160 lvl was given earlier. although lots of safe money can be made in just pure nifty intraday trading strategies its not possible to guide it on the blog due to a lot of technical and other constraints.

    are u trading the us mkts?:)

    regards.

    March 16, 2010 at 10:05 AM
    Sujatha said...

    Quote - are u trading us mkts :) as the question comes from a senior that too in a auspicious day, hope my dream will come true in future...:)

    Just trying to learning the curves.. donno when our market will start this for trading..

    But, very much interested in non-agri commodities like copper, crude and gold and this dow and S&P..

    Just trying to raise my capital on my own without disturbing my husband :)

    Trying to get rich slowly (this get rich slowly is - by Ilango sir)

    Regards

    March 16, 2010 at 10:17 AM
    abhay r somkuwar said...

    good to know...and the best method of creating wealth is by investing(long term) in very good managed cos...after which some risk in trading can be taken...all with the free money:)

    actually iam not very senior in stock mkts(about six years)

    heard some etfs on dow/nasdaq will be launched soon on nse(benchmark fund etc).

    regards.

    March 16, 2010 at 10:49 AM
    Sujatha said...

    Still you are in long mood :( when will you get down from this longgg journey? :)

    Regards

    PS : Unless the chart says?

    March 16, 2010 at 2:44 PM
    abhay r somkuwar said...

    some move to 5000 could be there, near term tgts almost all done now.

    regards.

    March 16, 2010 at 3:15 PM
    abhay r somkuwar said...

    yes, "till the charts don't order"

    March 16, 2010 at 3:19 PM

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