mkt ahead...03rd may 2010...

refer to 20th april post. mkt has performed exactly as per view.

there is no change in the outlook, nifty may slide to 5100 area in coming days where short term support and pullback in mkt may be found. reliance had also been weak and has some further downside left, comparatively rnrl and relinfra may perform better. lot of sectors showing exhaustion.

view on dow and s&p500(us) has also been very accurate. now some upside still possibly left in the dow, but if dow continues to correct below 10940 then can even come down about 7-8%. good short term support for bounce is near 10800.

therefore one can use any upsides from now for booking profits/exiting from stocks in short to medium term positions. medium to long term picture on dow and nifty is still bullish and any large dips in mkt can be used for accumulation purposes.

gold is bullish now, long term view on gold already given in ew analysis before(http://valuetrading.blogspot.com/2009/12/my-gold-ew-chart.html).

on nymex crude my view is, its still in bear mkt rally but that does'nt mean it can't go toward the $100-110/barrel mark.