Relief Rally ??

As said Yesterday, there is not change in today trade also as the Break out from the falling wedge still persist. If this is going to be the sw(4) then Nifty is moving towards 5167-69 as marked on chart as its the 50% retrace of the previous fall. As I feel the gaps are going to be left unfilled and may fall once it completes sw(4).

So if any readers of this Blog are in Short Position in Nifty then 5169 should be the Stop Loss. Break above this level may trigger a further rally to fill the above 2 gaps. Hence this wave counts become invalid and may change to ABC instead of 123.

Lets wait and see. Cheers!!!

Todays Performance :-

krish_venkatesh (23/Jul/2012 09:51:16): *****STOCK-ALERT***** Sell & Hold PANTALOON RETAIL below 177 for a Target of 169 & 162. SL above 184. (all cash levels)

krish_venkatesh (23/Jul/2012 10:38:28): *****STOCK-ALERT***** Sell & Hold TATA MOTORS Only Below 217 for a Target of 212 / 200 & 190. SL above 222 (all Cash levels)

krish_venkatesh (23/Jul/2012 13:21:24): *****STOCK-ALERT***** Sell CHAMBAL FERTILIZER Futures if breaks on cash below 73 for a Target of 70.40 / 67.30 & 63.30. SL above 75.

krish_venkatesh (25/Jul/2012 10:07:24): *****Stock Update***** TATA MOTORS Sell given on 23rd July @ 217. Cmp:212.50. First Target Achieved. Book atleast 50% Profit & Enjoy. Profit 5 X 1000 = Rs.5000

krish_venkatesh (25/Jul/2012 12:40:33): *****STOCK-UPDATE***** PANTALOON made a low of 168.80. First Target of 169 got achieved. Hold for Next Target 162. Others Book Profit. Sell given @ 177. Profit 8 X 2000 = Rs.16000. Enjoy

Chambal Fertlizer made a Low of 70.7 - Lot Size 4000. Sell given at 73. Profit so far 2.3 X 4000 = Rs.9,200.