Another great trading day with all targets and timelines met! :-) A preview into the updated charts, it seems like the party may continue for 1 or 2 more days! My dates continue to hold good - 5th / 7th May. I am adding another day 18th May (we may want to watch this day for some action?)
This downward trend may continue till we hit 4969! For those of you who booked profits at 5050 - you have another opportunity to short at 5125 (today's close) and hold with a SL of 5150 (closing basis). For those of you who booked out 50% and are still holding - continue to hold with a SL of 5135/50 (trade in your comfort zone). A close above 5150 will indicate change in trend. However, if we do test 4969 (around this level) please book profits! Things can change if we go below 4969! God help the bulls!! We may test 4650 or possibly lower (would this be by 18th May?) I really don't know.. Let us wait and see how things span out. Chart update: VIX The VIX continues to be in it's uptrend. As long as this continues, there is no problem for the bears. Watch the trendline carefully. Break of this will lead to a reversal in market sentiment and we may move north! GOLD Ain't a pretty story for the short term. I expect a minimum target of 1539 or 1500 in the next 30 - 45 days (18th June). Break of the green channel will confim this downmove. "If" gold does correct, please ensure you invest in this counter. I have a target of 2200 to 2400 by December '10. I feel that the RIL / RNRL judgement will send this market up. Any questions/comments? Drop me a comment on this post or write to me - [email protected] or add me on Google Talk - gautam108 All the best! -- Posted By Gautam Bajaj to Nifty + Equity at 5/05/2010 08:59:00 PM -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
