Friday, May 04, 2012

Week End or Dead End ???

As I have intimated about H&S many time here in this Blog - Today we saw a Break down.

Now What's Next??? - Where are we ?? - Are we still going to fall ??? or a Recovery from here ??? - its a Million dollar question in every one's Mind.

>>>Today Nifty made a low of 5070 and closed at 5080 which is exactly 50% retracement of Rise from 4531 to 5628.85.

>>> Hourly Chart Shows that the fall is yet to be completed, a Possible upmove for sw(4) then a fall can't be ruled out as shown on the chart above.

>>> If there is a Scope for further fall then whats the Target ???

>>> Nifty can fall upto 4950 which is 61.8% retracement. So another 130 Pts fall in Nifty is not ruled out, which is exactly the Target of Head & Shoulder formation.

>>>> TATA STEEL <<<<

When Tata Steel Call Generated as on 03rd May, 2012.

Tata Steel after the Fall as on 04th may,2012

Krishnan Venkatesh (5/3/2012 2:01:44 PM): ****STOCK ALERT***** TATA STEEL - Looks Weak if breaks and Traders below 449 on Spot. Resistance 460/464. May slide Upto 430,415 & 400.

Krishnan Venkatesh (5/4/2012 2:32:51 PM): First Target in Tata Steel - 430 done. Small Traders Should Book Profit & Must Enjoy

>>>>HDFC BANK<<<

Above Chart is HDFC BANK - has broken the long term Trend Line - Hope HDFC BANK can fall Next week.

>>>Wish You all a Happy Week end <<<<