tag:blogger.com,1999:blog-7148222695370746347.post508021893585128716..comments2023-10-15T17:16:24.091+05:30Comments on Stock Market Charts | India Mutual Funds Investment: BSE Sensex Index Chart Pattern - Jul 09, '10Subhankarhttp://www.blogger.com/profile/13248068905130821262noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7148222695370746347.post-81326871776883598342010-07-12T14:56:42.309+05:302010-07-12T14:56:42.309+05:30Thanks for your comments, Sumit.
The Sensex chart...Thanks for your comments, Sumit.<br /><br />The Sensex chart pattern looks like forming a head-and-shoulders pattern - which could get negated on a close above the previous top at 18048. Or, the new high, if formed, could become the new 'head', in which case the top marked 'H' would become 'LS3' (a third left shoulder). We won't really know till the pattern plays out. It could well be a double-top instead.<br /><br />NSE authorities do not recognise gaps in charts, which makes it unsuitable for technical analysis. So, I don't track the Nifty and can't comment on Nifty levels. <br /><br />I am an advocate of building wealth through patient long-term investing, and neither recommend following shorter-term EMAs nor shorting, for small investors.Subhankarhttps://www.blogger.com/profile/13248068905130821262noreply@blogger.comtag:blogger.com,1999:blog-7148222695370746347.post-42259929194927902302010-07-12T14:08:42.725+05:302010-07-12T14:08:42.725+05:30I do not agree to the chart pattern to be called a...I do not agree to the chart pattern to be called as Head and Shoulder. Yes, momentum is weak on upside and 5450 will be difficult to cross on closing basis. I recommend following a 8 EMA breakdown on closing basis on Nifty to initiate short position.Unknownhttps://www.blogger.com/profile/14932189640518059192noreply@blogger.com