Indices
Thursday, October 24, 2013
INDICES:
PUZZLE STILL UNRESOLVED- II
(WHETHER IT’S BEGINNING OR ENDING STILL NOT CONCLUSIVE,
BUT MIDCAP/SMALLCAP EUPORIA RALLY MAY STILL CONTINUE FURTHER):
TRAIL THE TREND:
As mentioned earlier there are two possible alternatives from wave count perspectives.
1. If it’s ending then its final wave-C of Z (Bearish alternates). It has target1-6350 & tgt2-6500 levels on nifty & target1-21200 & target2-21500 levels on sensex. Probability of achieving Second Targets as mentioned above looks unlikely unless it goes for extension in both Sensex & Nifty.
2. If it’s beginning then its Wave-III of 3 (Bullish alternates). It has target of 6800 levels on nifty & 23000 levels on sensex & Further more going ahead & All pains are far behind us
Charts for this already sent earlier.
My preferred one is first & will watch out Overall market behavior at higher levels to review it further. But we all know market is not controlled by anybody therefore, I neither want to keep any kind of Bias nor want to do pre-emption in hurry to reach final conclusion till it’s proven otherwise.
But one thing looks very clear that in this stage of market midcap & small cap is going to out perform. We will see euphoria rally in stocks of these segments & expecting targets levels as mentioned as per chart attached for these Indices in short term.
Therefore, reiterating the best strategy once again to TRAIL THE TREND TILL IT REVERSES from short to medium term perspectives with an objective to be in Game (i.e. in market) rather then left out & recommending to be stock specific at current levels of market.