Tuesday, May 7, 2013

Tired channel breakout?

30 min chart is consolidating at the channel lower line at the top.It is very close to the Gann angle lines, which had served to reverse directions earlier.Only a decisive break down or break out can give indications of a tradeable option.Otherwise it is advantage intraday.


  1. Respected Suresh Ji..Good Morning....Your updates are awesome & very useful in positional trading..Sir i have a query...if nd when u feel free please guide me...some month before your updates was on gold as till may end 2013 gold will hit @ 26500 area in mcx...& it done..1st congratulation for dat nice i want to ask as is here we can buy gold for short term trading point of view. i think u given target till december end 2013 or by march 2014 around india..if i am wrong den i am sorry..but my motive is only to ask about gold trend . thank you...i hope u will give me direction..

    1. Dear Market Mantra,

      Please see today`s post. It is specially to answer you.

      Warm Regards


  2. Hello Sir,

    I have recently started following your blog. Kudos for the way it is maintained and the amazing content you share with everyone. I have a couple of questions regarding the Nifty and the Bank Nifty which are as follows:
    There is a clear bearish wolfe wave that has formed in the Nifty daily charts whose targets are around 4800. A similar pattern has formed in Bank Nifty also. Also, all the upward Wolfe Wave targets for Nifty and Bank Nifty have been hit (Nifty target was 6070 which was hit today. The market closed a shade below this point). My feeling is that the bearish wolfe waves will now get activated. However, it is not easy to time it because of which I had bought (and am holding) Bank Nifty May 12200 puts. My Gut feel is that the reversal/decline will start from tomorrow and will continue till expiry.

    Request your Astro views on the same.

    Thank You very much and really appreciate your effort.


  3. Dear Wacky Punter,
    Astro reversal time band is from May 08 to May 15.I have discussed the technical picture in detail in today`s post.

    Warm Regards