Profit Realization or.......?

worthiness · 1 Profit Realization or.......? Thu Jul 17, 2014 2:59 pm

worthiness

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Heavy profit realization drags the market down today that leads market correction or balancing of overbought/oversold situations. Worst side of this scenario is the queueing non profit makers in the procession who can easily create the panic situation. Perhaps it may be observed on coming trading days. Market dips at intervals are unavoidable which sign the readiness of the market for the next leap. Some analysts predict that after few trading days market will be heading to break 6800 & 3800 barriers as no strong obstacles visible.

stevenapple · 2 Re: Profit Realization or.......? Thu Jul 17, 2014 3:08 pm

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True. Better to be vigilant and take sound decisions without following the herd.

SHARK aka TAH · 3 Re: Profit Realization or.......? Thu Jul 17, 2014 3:13 pm

SHARK aka TAH

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I like similar days

Meman · 4 Re: Profit Realization or.......? Thu Jul 17, 2014 3:14 pm

Meman

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market will correct but not crash. unlike other times sound fundamentals no?

stevenapple · 5 Re: Profit Realization or.......? Thu Jul 17, 2014 3:26 pm

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SHARK wrote:I like similar days

How many days on the trott.

dhanurrox · 6 Re: Profit Realization or.......? Thu Jul 17, 2014 3:28 pm

dhanurrox

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Today is a day of collections and corrections.

NC · 7 Re: Profit Realization or.......? Thu Jul 17, 2014 4:05 pm

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I'm also waiting for a correction to get entered... Very Happy

Meanwhile I did sort of analysis of ASI.
ASI is clearly pressured towards to 7000. (both black pitchfork). Near term supports may, 6700, 6600 and finally 6450 at current outlook as at today.
Profit Realization or.......? Asi10

(Note: This's my personal outlook as at 16/6/2014 chart, and parallel lines may slightly differ from actual, bcz those are hand drawn.)

stevenapple · 8 Re: Profit Realization or.......? Thu Jul 17, 2014 4:33 pm

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Thanks mate.

VALUEPICK · 9 Re: Profit Realization or.......? Thu Jul 17, 2014 4:39 pm

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worthiness wrote:Heavy profit realization drags the market down today that leads market correction or balancing of overbought/oversold situations. Worst side of this scenario is the queueing non profit makers in the procession who can easily create the panic situation. Perhaps it may be observed on coming trading days. Market dips at intervals are unavoidable which sign the readiness of the market for the next leap. Some analysts predict that after few trading days market will be heading to break 6800 & 3800 barriers as no strong obstacles visible.

Yes time to time Mr Market will decide when to balance or not. As long as major up trend is intact
pullbacks, market pause and volatility create great opportunities.

Stocks to watch in the current market:

Fundamentally sound large, mid and small Stocks which are having pull backs
Stocks which are building their base. These stocks can jump strongly at any time as long as market stays strong
Undervalued sectors
Blue chips which had pullback recently
Stocks which didn’t have meaningful rally after their first initial jump

Good luck!

worthiness · 10 Re: Profit Realization or.......? Thu Jul 17, 2014 7:34 pm

worthiness

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@NC
Withdrawal of substantial volume of counters, particularly from overseas portfolios, may cause to countdown the index to 6450 level. Verification of incoming/outgoing of foreign funds in these days could reveal the movement of market in next couple of trading days. Perhaps, it may be coupled with edging down Rupee value on importers' dollar demand. Anyway, it is a speculative remark.

NC · 11 Re: Profit Realization or.......? Fri Jul 18, 2014 7:36 am

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yep, as this outlook, there's a longway to go and retests before to hit LML (6450). And this 6450 level was as at 16/07/2014, if you notice LML was at;
March end - 5900 and nicely tested
April - 6000 ( rally started)
May- 6100
June - 6200
July - 6300 and nicely tested
August - 6500
As it cleanly closed above ML, 90% of time it may hit 7000, and LML may at around 6600.
And if observe the market structure, from April to July There are enough pull backs (HLs) and retests, but after July there're no any HLs. So last HL is 6300.
So, before it hit 7000 I think it need to a retest, a new HL. may around 6700-6620. Its more healthier, for a sustained growth. Otherwise its lookalike Chaotic.