tag:blogger.com,1999:blog-7148222695370746347.post8684661717768057773..comments2023-10-15T17:16:24.091+05:30Comments on Stock Market Charts | India Mutual Funds Investment: Chart Patterns of 10 Banking Sector stocksSubhankarhttp://www.blogger.com/profile/13248068905130821262noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7148222695370746347.post-48984755751485599272010-12-15T00:12:34.298+05:302010-12-15T00:12:34.298+05:30Appreciate your comments, Niteen.
One of the main...Appreciate your comments, Niteen.<br /><br />One of the main reasons for writing this blog is to demystify technical analysis for small investors. If more readers like you get interested to study the subject, my efforts will be well worth it.<br /><br />The Sensex did react after reaching the 2008 top of 21000. That doesn't necessarily make it a double-top. A double-top will get confirmed only if the Sensex falls below the in-between low of 7700. That seems very unlikely.<br /><br />As per an earlier post analysing a long-term Sensex chart, I had mentioned a minimum up side target of 22000. The Sensex should get there in the near-term (i.e. 3-4 months). On the down side, the 18000-18500 zone has good support. Below that, the Sensex can drop to 16000.Subhankarhttps://www.blogger.com/profile/13248068905130821262noreply@blogger.comtag:blogger.com,1999:blog-7148222695370746347.post-77032033267260507862010-12-12T22:56:52.548+05:302010-12-12T22:56:52.548+05:30I am a fundamental side of the world and admit tha...I am a fundamental side of the world and admit that I lack knowledge of Technical analysis but your write ups are simply superb and make me believe that one of the best in India in terms of simplicity to explain the analysis. Keep up the good job.<br /><br />You have mentioned about double top somewhere of one of the banks and I heard that Sensex also had double topped at 21k and that is the reason it’s falling. So what could be pessimistic and optimistic levels (on the lower side) with probability (if TA permits) of Sensex retracing to go beyond 21k?Niteen S Dharmawathttps://www.blogger.com/profile/14299180659043749768noreply@blogger.com