Nifty :Double Top

Nifty made a double top at 6073-6071 ,now it could target 5910-5920.
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Update EOD 30/09/10
Pattern Failed .

JSL

If the stock manages to close above 131 for 2-3 trading sessions then it could target 160.

Update : Falling Wedge in Nifty

Target for nifty given in last post reached as nifty made a high of 6029.

Nifty : Falling Wedge

Nifty has formed falling wedge in hourly chart so if 5970 is taken out with good volumes nifty could again see 6035.

Nifty vs 52 Week New Highs Minus Lows

In the chart above one could see even though nifty has been making new highs but 52 week highs minus lows figure is not able to sustain above 100 so one need to cautious...but one can argue that this is the case for months, so now with nifty P/E value at 25.29 this cautious approach becomes even more important.  

EKC

EKC has made a double bottom at 108 and is on the verge of breaking downward trend line of more than two and a half year, so one could buy it if it gives close above 123 for 2-3 trading sessions for target of 133-146-160.

On to recovery

For last two months i have been not keeping well, suffering from multiple infections so was not able to post but now as i have recovered quite a bit i'll try and post regularly on the blog.

NIFTY

In case of correction 5536 should prove to be a good support now.