My Last Post on this Blog about Head and Shoulder on Nifty - almost coming in to reality when Nifty was slowly loosing its strength on Friday.
Now the Big question is will Nifty break 5638-40 - base support or Neck Line. Here are the two possibilities.
>> NIFTY << >> Possibility - 1<<
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Nifty has completed Sub wave B and should fall below the base line support 5638-40. Target should be 5550 or 5500.
>>NIFTY<< >> Possibility - 2<<
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Nifty yet to complete sub wave B. In that case nifty may take support 5660 or 5640 and may bounce upto 5750 before a fall for completing wave B. So Nifty may fall upto 5570 or 5520 for wave C.
>>INFY<<
Expected 2 weeks before as given Weekly Review - 30th Sep,2012 :-
Have advised my clients to go short on INFY at 2600 for a Target of 2440 and 2300.
Happened on Friday during Result Day as below.
Booked all Profits from 2600 to 2300. Lot Size 125. Refer Performance sheet for Details.
>> JP ASSOCIATES <<
Technically JP Associates has broken its Two and Half Year Trend line and gave a clear Bullish signal.
Not only JP Associates, but all cement companies started moving up..So what the News behind it.
On June 21, CCI had slapped Rs 6,307 crore penalty on 11 cement makers.The order was passed following probe by its Director General (Investigation) on a complaint filed by Builders Association, which has hailed the order saying "it was long-pending and the penalty could have been higher"
CCI had not disclosed various facts about matters like production, dispatches and pricing.
Meanwhile Competition Appellate Tribunal (COMPAT) has asked on 11th Oct, fair trade regulator CCI to give fresh copies of its order levying over Rs 6,300 crore in penalties on 11 cement companies for cartelisation, providing them with complete details on production, pricing and sales.
The tribunal said the matter would be listed for further hearing within seven weeks, taking into account the fresh details from the CCI and the cement companies.
This was an Interim Relief to all 11 Cement Companies including JP Associates.
>>PERFORMANCE<<
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Performance upto 15th Oct, 2012. All Levels are given on Spot Only. Stop Loss on Closing Basis Only. Interested may contact krish_venkatesh@yahoo.com or 96779247975.
