Indices

Wednesday, August 14, 2013

  

INDICES:
MIDCAP & SMALLCAP INDEX: 140813
(PRICE ANALYSIS, SIZE IS EQUAL OF PRECEDING FALL of 2010-11)
Don't be caught in midcap & small cap rally assuming bottom here!!!

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Don't be caught in midcap & small cap stocks rally assuming bottom here being Investor.
By looking at charts, it looks mirror image in terms of size of first leg fall, alien with 2010-2011 beginning; it may halt here for some time before beginning of next down ward final collapse (i.e.-wave-Y).

One may get stock specific good move in this rally in midcap & small cap stocks for trading perspective but being Investor, its last & final opportunity to sell or exit for medium term perspective.

It can be good trading opportunity not an Investment opportunity at current levels of market.

BSE BANKEX-13.08.2013
CMP-11403 (wave-X or Wave-IV)???


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It looks like end of zigzag correction in BSE Bankex as per chart attached. It’s daily KST (Momentum Indicators) also came in to Buy indicating short term Trend reversal. One can expect pull back rally in banking space as a whole in short term.

Its Wave-IV or wave-X in BSE Bankex, its still not conclusive but we can definitely expect rally from current levels that what chart is indicating today for possible target1-12268 & target2-12600( In case of Wave-IV) & target3-13500/13700 levels (In case of wave-X) in BSE Bankex.
By looking at charts & risk reward, banking looks attractive bet to BUY at current levels in this pull back rally. Many Banks of both Pubic & Private sectors has a very good risk reward to buy at current levels for this pull back rally.

One should keep SL-11000 in case of BSE Bankex Index for higher levels targets as mentioned above in short term.
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